Chevy Chase Trust Holdings LLC Sells 2,534 Shares of Zoetis Inc. (NYSE:ZTS)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Zoetis Inc. (NYSE:ZTS) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 259,027 shares of the company’s stock after selling 2,534 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of Zoetis worth $43,830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZTS. Blue Bell Private Wealth Management LLC raised its holdings in shares of Zoetis by 222.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after buying an additional 89 shares during the period. Independence Bank of Kentucky lifted its position in shares of Zoetis by 371.4% during the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock worth $33,000 after purchasing an additional 130 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of Zoetis during the fourth quarter valued at $33,000. Webster Bank N. A. boosted its stake in shares of Zoetis by 89.1% during the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Finally, Ramirez Asset Management Inc. bought a new position in shares of Zoetis in the third quarter worth about $35,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Zoetis Trading Down 1.0 %

Shares of NYSE ZTS traded down $1.78 during trading on Wednesday, reaching $172.46. The stock had a trading volume of 861,926 shares, compared to its average volume of 2,898,753. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. The company has a market cap of $78.69 billion, a P/E ratio of 33.18, a PEG ratio of 2.72 and a beta of 0.86. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The business’s 50-day moving average price is $171.62 and its 200-day moving average price is $177.52.

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

Zoetis Dividend Announcement

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 issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, July 18th. Zoetis’s dividend payout ratio (DPR) is presently 33.14%.

Insider Buying and Selling at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 14,800 shares in the company, valued at $2,237,316. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.