Meyer Handelman Co. Lowers Stake in Zoetis Inc. (NYSE:ZTS)

Meyer Handelman Co. lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,571 shares of the company’s stock after selling 150 shares during the quarter. Meyer Handelman Co.’s holdings in Zoetis were worth $1,620,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC raised its position in shares of Zoetis by 222.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock valued at $25,000 after buying an additional 89 shares in the last quarter. Independence Bank of Kentucky grew its holdings in shares of Zoetis by 371.4% during the 4th quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares during the last quarter. Private Wealth Management Group LLC bought a new position in shares of Zoetis during the 4th quarter valued at $33,000. Ramirez Asset Management Inc. bought a new position in shares of Zoetis during the 3rd quarter valued at $35,000. Finally, Gladius Capital Management LP bought a new position in shares of Zoetis during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 1.7 %

Shares of NYSE ZTS opened at $171.09 on Friday. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The stock has a market cap of $78.07 billion, a P/E ratio of 32.97, a price-to-earnings-growth ratio of 2.61 and a beta of 0.88. The firm has a 50-day moving average of $166.56 and a 200 day moving average of $179.20. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94.

Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 earnings per share. As a group, sell-side analysts expect that Zoetis Inc. will post 5.76 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be given a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $1.73 annualized dividend and a yield of 1.01%. Zoetis’s dividend payout ratio (DPR) is 33.33%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Stifel Nicolaus cut their price target on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. HSBC cut their price target on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Barclays cut their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zoetis has an average rating of “Buy” and a consensus target price of $211.75.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total transaction of $139,529.91. Following the completion of the sale, the executive vice president now directly owns 14,800 shares in the company, valued at $2,237,316. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by company insiders.

Zoetis Profile

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.