Campbell Newman Asset Management Inc. Reduces Stock Position in Zoetis Inc. (NYSE:ZTS)

Campbell Newman Asset Management Inc. cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 97,194 shares of the company’s stock after selling 12,163 shares during the period. Zoetis comprises approximately 1.3% of Campbell Newman Asset Management Inc.’s holdings, making the stock its 29th largest position. Campbell Newman Asset Management Inc.’s holdings in Zoetis were worth $15,836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZTS. Darwin Wealth Management LLC bought a new stake in Zoetis during the third quarter valued at approximately $31,000. First Personal Financial Services purchased a new position in shares of Zoetis during the 3rd quarter worth $33,000. Capital Performance Advisors LLP bought a new stake in shares of Zoetis during the 3rd quarter valued at $33,000. Dunhill Financial LLC raised its holdings in Zoetis by 80.6% in the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock worth $33,000 after purchasing an additional 75 shares during the period. Finally, Quarry LP lifted its position in Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Zoetis Stock Up 1.5 %

Shares of ZTS stock traded up $2.52 during trading hours on Wednesday, reaching $166.93. 164,626 shares of the company’s stock were exchanged, compared to its average volume of 2,361,939. The stock has a market cap of $75.31 billion, a PE ratio of 31.38, a PEG ratio of 2.91 and a beta of 0.89. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average price is $171.31 and its two-hundred day moving average price is $180.16. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $200.53.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the business posted $1.36 EPS. Zoetis’s revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts predict that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.20%. This is a boost from Zoetis’s previous quarterly dividend of $0.43. Zoetis’s payout ratio is currently 37.59%.

Analyst Ratings Changes

ZTS has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. increased their target price on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. UBS Group assumed coverage on shares of Zoetis in a research report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price target for the company. Leerink Partners assumed coverage on Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price target for the company. Finally, Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $211.89.

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.