Gulf International Bank UK Ltd Sells 8,454 Shares of Zoetis Inc. (NYSE:ZTS)

Gulf International Bank UK Ltd decreased its holdings in Zoetis Inc. (NYSE:ZTS) by 24.2% in the first quarter, Holdings Channel reports. The fund owned 26,438 shares of the company’s stock after selling 8,454 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Zoetis were worth $4,353,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Portside Wealth Group LLC lifted its stake in Zoetis by 24.7% in the first quarter. Portside Wealth Group LLC now owns 33,709 shares of the company’s stock worth $5,550,000 after purchasing an additional 6,672 shares during the last quarter. Tandem Investment Advisors Inc. lifted its stake in Zoetis by 100.3% in the first quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company’s stock worth $65,140,000 after purchasing an additional 198,089 shares during the last quarter. Flagship Harbor Advisors LLC lifted its stake in Zoetis by 31.2% in the first quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company’s stock worth $1,217,000 after purchasing an additional 1,760 shares during the last quarter. Horizon Financial Services LLC bought a new stake in Zoetis in the first quarter worth about $380,000. Finally, Sage Rhino Capital LLC lifted its stake in Zoetis by 117.6% in the first quarter. Sage Rhino Capital LLC now owns 7,014 shares of the company’s stock worth $1,155,000 after purchasing an additional 3,791 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

ZTS has been the subject of several analyst reports. Stifel Nicolaus downgraded shares of Zoetis from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Leerink Partnrs downgraded shares of Zoetis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Leerink Partners downgraded shares of Zoetis from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. UBS Group decreased their price target on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Finally, Piper Sandler lifted their price target on shares of Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Zoetis currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.43.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 652 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the completion of the transaction, the executive vice president owned 15,129 shares of the company’s stock, valued at $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

Zoetis Stock Performance

Shares of ZTS stock opened at $152.38 on Thursday. The firm has a market cap of $67.53 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 2.44 and a beta of 0.88. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $155.57 and its 200 day moving average is $159.45.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.14. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. Zoetis’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.56 earnings per share. On average, sell-side analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. Zoetis’s payout ratio is 34.42%.

About Zoetis

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.