Princeton Global Asset Management LLC Reduces Stock Position in Zoetis Inc. (NYSE:ZTS)

Princeton Global Asset Management LLC trimmed its stake in shares of Zoetis Inc. (NYSE:ZTS) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,927 shares of the company’s stock after selling 374 shares during the period. Princeton Global Asset Management LLC’s holdings in Zoetis were worth $477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC bought a new stake in shares of Zoetis during the 3rd quarter valued at about $31,000. First Personal Financial Services purchased a new position in shares of Zoetis in the third quarter worth approximately $33,000. Capital Performance Advisors LLP bought a new stake in Zoetis during the third quarter valued at approximately $33,000. Dunhill Financial LLC increased its holdings in Zoetis by 80.6% during the third quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after buying an additional 75 shares during the last quarter. Finally, Quarry LP raised its position in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after acquiring an additional 153 shares during the period. Institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

ZTS has been the topic of a number of recent research reports. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. Leerink Partners assumed coverage on shares of Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective on the stock. UBS Group initiated coverage on Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price target on the stock. Morgan Stanley cut their price objective on shares of Zoetis from $248.00 to $243.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Stifel Nicolaus lowered their target price on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $215.00.

Zoetis Stock Performance

ZTS opened at $170.81 on Monday. The firm’s fifty day simple moving average is $169.62 and its two-hundred day simple moving average is $179.46. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $200.53. The company has a market cap of $77.06 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 2.72 and a beta of 0.90. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26.

Zoetis (NYSE:ZTS) last released its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping 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 period last year, the company posted $1.36 EPS. The business’s revenue was up 11.6% on a year-over-year basis. Equities analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Zoetis’s previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, January 21st. Zoetis’s payout ratio is 37.59%.

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.