Alta Capital Management LLC Sells 4,976 Shares of Zoetis Inc. (NYSE:ZTS)

Alta Capital Management LLC decreased its stake in shares of Zoetis Inc. (NYSE:ZTS) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 169,791 shares of the company’s stock after selling 4,976 shares during the period. Zoetis accounts for 1.6% of Alta Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Alta Capital Management LLC’s holdings in Zoetis were worth $27,664,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in Zoetis during the 3rd quarter worth about $31,000. First Personal Financial Services purchased a new stake in Zoetis during the 3rd quarter worth about $33,000. Capital Performance Advisors LLP purchased a new stake in Zoetis during the 3rd quarter worth about $33,000. Dunhill Financial LLC lifted its holdings in Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock worth $33,000 after purchasing an additional 75 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its holdings in Zoetis by 482.8% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

ZTS has been the topic of several recent analyst reports. Barclays raised their price target on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Morgan Stanley lowered their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Piper Sandler raised their price target on Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Stifel Nicolaus lowered their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, UBS Group began coverage on Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $215.90.

Insider Buying and Selling

In other news, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the sale, the executive vice president now directly owns 16,107 shares in the company, valued at approximately $2,757,196.26. This trade represents a 1.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Zoetis Price Performance

ZTS opened at $170.47 on Tuesday. The stock’s 50 day simple moving average is $166.42 and its 200 day simple moving average is $177.16. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $200.33. The firm has a market cap of $76.34 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 2.78 and a beta of 0.90.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) 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 business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 annualized dividend and a yield of 1.17%. Zoetis’s payout ratio is 36.56%.

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.