Texas Capital Bank Wealth Management Services Inc Decreases Position in Zoetis Inc. (NYSE:ZTS)

Texas Capital Bank Wealth Management Services Inc lowered its position in Zoetis Inc. (NYSE:ZTS) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,692 shares of the company’s stock after selling 942 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Zoetis were worth $6,793,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Zoetis by 482.8% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Zoetis by 5,533.3% in the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock valued at $28,000 after acquiring an additional 166 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Zoetis during the 4th quarter worth about $44,000. Asset Planning Inc acquired a new position in Zoetis in the 4th quarter valued at about $58,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Zoetis during the fourth quarter worth about $59,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on ZTS shares. Barclays lifted their target price on shares of Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Morgan Stanley lowered their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Piper Sandler increased their price objective on shares of Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Stifel Nicolaus dropped their price target on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and an average target price of $215.90.

Zoetis Stock Down 3.9 %

NYSE ZTS traded down $5.92 during trading hours on Thursday, hitting $147.63. The company had a trading volume of 905,960 shares, compared to its average volume of 2,612,430. The firm’s 50 day moving average is $163.46 and its 200 day moving average is $172.01. The company has a market capitalization of $66.11 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 2.78 and a beta of 0.92. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $200.33. 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 (NYSE:ZTS) last posted its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. Sell-side analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be given a dividend of $0.50 per share. The ex-dividend date is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.35%. Zoetis’s payout ratio is currently 36.56%.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $170.00, for a total transaction of $55,420.00. Following the sale, the executive vice president now owns 15,781 shares in the company, valued at $2,682,770. This represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the transaction, the director now owns 11,245 shares of the company’s stock, valued at approximately $1,868,244.30. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,862 shares of company stock valued at $312,254. Corporate insiders own 0.16% 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.