Riverview Trust Co Purchases Shares of 701 Zoetis Inc. (NYSE:ZTS)

Riverview Trust Co bought a new position in Zoetis Inc. (NYSE:ZTS) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 701 shares of the company’s stock, valued at approximately $119,000.

A number of other hedge funds have also modified their holdings of ZTS. Acadian Asset Management LLC raised its holdings in shares of Zoetis by 124.1% in the 3rd quarter. Acadian Asset Management LLC now owns 17,783 shares of the company’s stock worth $3,089,000 after buying an additional 9,847 shares in the last quarter. LPL Financial LLC grew its position in Zoetis by 29.4% during the 3rd quarter. LPL Financial LLC now owns 285,534 shares of the company’s stock worth $49,656,000 after acquiring an additional 64,930 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Zoetis during the 3rd quarter worth approximately $9,327,000. Operose Advisors LLC bought a new stake in Zoetis during the 3rd quarter worth approximately $58,000. Finally, O Shaughnessy Asset Management LLC boosted its position in Zoetis by 21.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 86,919 shares of the company’s stock valued at $15,122,000 after buying an additional 15,076 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Performance

Shares of Zoetis stock opened at $167.92 on Wednesday. The company has a market capitalization of $76.62 billion, a PE ratio of 32.35, a PEG ratio of 2.67 and a beta of 0.88. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. The stock’s fifty day simple moving average is $167.30 and its 200 day simple moving average is $179.00.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the business posted $1.31 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, research analysts predict that Zoetis Inc. will post 5.76 EPS for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the sale, the executive vice president now owns 14,800 shares of the company’s stock, valued at $2,237,316. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

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.