Kingswood Wealth Advisors LLC Sells 300 Shares of Zoetis Inc. (NYSE:ZTS)

Kingswood Wealth Advisors LLC cut its stake in Zoetis Inc. (NYSE:ZTS) by 8.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,466 shares of the company’s stock after selling 300 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Zoetis were worth $586,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Peak Financial Advisors LLC bought a new position in Zoetis in the fourth quarter worth about $2,776,000. Focus Financial Network Inc. ADV purchased a new position in shares of Zoetis in the 4th quarter valued at approximately $2,159,000. Price T Rowe Associates Inc. MD boosted its position in shares of Zoetis by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock valued at $2,707,262,000 after purchasing an additional 3,244,074 shares in the last quarter. Ninety One UK Ltd grew its stake in Zoetis by 13.1% in the fourth quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock worth $21,374,000 after purchasing an additional 12,537 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Zoetis by 10.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock worth $36,230,000 after purchasing an additional 17,976 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was 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 owns 14,800 shares in the company, valued at $2,237,316. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

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

Zoetis Trading Up 1.8 %

Shares of NYSE:ZTS opened at $170.94 on Thursday. 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 Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a market cap of $78.00 billion, a P/E ratio of 32.94, a PEG ratio of 2.61 and a beta of 0.88. The stock’s fifty day moving average price is $167.30 and its 200-day moving average price is $179.00.

Zoetis (NYSE:ZTS) last posted its 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 net margin of 27.38% and a return on equity of 50.34%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the business earned $1.31 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Sell-side analysts expect that Zoetis Inc. will post 5.76 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be issued 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 dividend yield of 1.01%. Zoetis’s payout ratio is 33.14%.

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.