Shares of Zoetis Inc. (NYSE:ZTS – Get Free Report) were down 0.4% during trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $195.00 to $180.00. Stifel Nicolaus currently has a buy rating on the stock. Zoetis traded as low as $158.04 and last traded at $158.60. Approximately 979,969 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 3,120,154 shares. The stock had previously closed at $159.24.
Several other equities analysts also recently commented on the company. The Goldman Sachs Group raised their target price on Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Barclays cut their price objective on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Finally, StockNews.com downgraded Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $216.13.
Insider Activity
In other news, EVP Roxanne Lagano sold 363 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $197.74, for a total value of $71,779.62. Following the transaction, the executive vice president now owns 20,417 shares of the company’s stock, valued at $4,037,257.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 2,209 shares of company stock valued at $371,293. 0.16% of the stock is owned by insiders.
Institutional Investors Weigh In On Zoetis
Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Zoetis during the fourth quarter worth $980,646,000. Price T Rowe Associates Inc. MD lifted its stake in 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 worth $2,707,262,000 after purchasing an additional 3,244,074 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in Zoetis during the fourth quarter worth $242,757,000. Vaughan Nelson Investment Management L.P. bought a new stake in Zoetis during the third quarter worth $176,219,000. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Zoetis by 122.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,448,665 shares of the company’s stock valued at $285,923,000 after acquiring an additional 797,884 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.
Zoetis Stock Down 0.5 %
The company has a market capitalization of $72.49 billion, a P/E ratio of 31.28, a PEG ratio of 2.44 and a beta of 0.85. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32. The stock has a 50 day moving average price of $170.66 and a 200 day moving average price of $179.12.
Zoetis (NYSE:ZTS – Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.19 billion. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 earnings per share. On average, research analysts anticipate that Zoetis Inc. will post 5.78 earnings per share for the current fiscal year.
Zoetis Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be given a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Thursday, April 18th. Zoetis’s dividend payout ratio (DPR) is presently 34.12%.
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.