Zoetis Inc. (NYSE:ZTS) Sees Large Decrease in Short Interest

Zoetis Inc. (NYSE:ZTS) was the recipient of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 6,510,000 shares, a drop of 20.9% from the February 13th total of 8,230,000 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average trading volume of 3,010,000 shares, the days-to-cover ratio is presently 2.2 days.

Zoetis Stock Performance

NYSE ZTS traded down $0.90 during trading on Tuesday, hitting $164.28. The company’s stock had a trading volume of 1,879,326 shares, compared to its average volume of 2,534,791. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The firm has a 50 day moving average price of $166.82 and a 200 day moving average price of $175.97. The firm has a market cap of $73.56 billion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Zoetis has a 52 week low of $144.80 and a 52 week high of $200.33.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.30 billion. Equities research analysts forecast that Zoetis will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, April 21st. Zoetis’s payout ratio is presently 36.56%.

Insiders Place Their Bets

In other news, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the sale, the director now directly owns 11,245 shares of the company’s stock, valued at $1,868,244.30. This trade represents a 9.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $170.00, for a total value of $55,420.00. Following the sale, the executive vice president now directly owns 15,781 shares of the company’s stock, valued at $2,682,770. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,862 shares of company stock worth $312,254. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of Zoetis

Institutional investors have recently modified their holdings of the company. Darwin Wealth Management LLC acquired a new stake in shares of Zoetis during the 3rd quarter worth approximately $31,000. Dunhill Financial LLC boosted its stake in Zoetis by 80.6% in the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after buying an additional 75 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its stake in Zoetis by 482.8% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after buying an additional 140 shares in the last quarter. Rakuten Securities Inc. boosted its stake in Zoetis by 5,533.3% in the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock valued at $28,000 after buying an additional 166 shares in the last quarter. Finally, Navigoe LLC acquired a new stake in Zoetis in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. UBS Group assumed coverage on Zoetis in a research note on Monday, December 9th. They set a “neutral” rating and a $196.00 price target for the company. Barclays raised their price target on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. StockNews.com raised Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Finally, Stifel Nicolaus cut their price objective on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Zoetis has an average rating of “Buy” and an average price target of $215.90.

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.