Zoetis (NYSE:ZTS) Downgraded to “Hold” Rating by Stifel Nicolaus

Stifel Nicolaus lowered shares of Zoetis (NYSE:ZTS) from a buy rating to a hold rating in a report released on Wednesday, MarketBeat.com reports. The brokerage currently has $160.00 price target on the stock, down from their prior price target of $165.00.

ZTS has been the subject of a number of other reports. Wall Street Zen raised shares of Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. UBS Group decreased their price target on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Piper Sandler increased their price target on shares of Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Zoetis currently has an average rating of “Buy” and a consensus target price of $212.13.

Zoetis Stock Down 4.0%

NYSE:ZTS opened at $155.21 on Wednesday. Zoetis has a 1-year low of $139.70 and a 1-year high of $200.33. The company has a 50-day moving average of $159.26 and a 200 day moving average of $163.68. The firm has a market cap of $69.10 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.68 and a beta of 0.94. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.74 and a quick ratio of 1.04.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Zoetis will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Friday, July 18th. Zoetis’s payout ratio is currently 35.91%.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the transaction, the executive vice president now owns 15,129 shares in the company, valued at approximately $2,571,930. This represents a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zoetis

Several hedge funds and other institutional investors have recently bought and sold shares of ZTS. Voya Investment Management LLC increased its holdings in shares of Zoetis by 0.8% during the 1st quarter. Voya Investment Management LLC now owns 225,506 shares of the company’s stock valued at $37,130,000 after purchasing an additional 1,809 shares in the last quarter. Howe & Rusling Inc. increased its holdings in shares of Zoetis by 15.9% during the 1st quarter. Howe & Rusling Inc. now owns 2,177 shares of the company’s stock valued at $358,000 after purchasing an additional 298 shares in the last quarter. Maple Capital Management Inc. increased its holdings in shares of Zoetis by 1.3% during the 1st quarter. Maple Capital Management Inc. now owns 85,918 shares of the company’s stock valued at $14,146,000 after purchasing an additional 1,076 shares in the last quarter. 1248 Management LLC purchased a new position in shares of Zoetis during the 1st quarter valued at approximately $35,000. Finally, First Long Island Investors LLC increased its holdings in shares of Zoetis by 402.9% during the 1st quarter. First Long Island Investors LLC now owns 171,698 shares of the company’s stock valued at $28,270,000 after purchasing an additional 137,555 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Company 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.