Rockland Trust Co. Has $1.05 Million Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Rockland Trust Co. lifted its stake in Zoetis Inc. (NYSE:ZTS) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,379 shares of the company’s stock after acquiring an additional 83 shares during the quarter. Rockland Trust Co.’s holdings in Zoetis were worth $1,050,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Callahan Advisors LLC increased its stake in shares of Zoetis by 90.4% during the 4th quarter. Callahan Advisors LLC now owns 13,105 shares of the company’s stock worth $2,135,000 after purchasing an additional 6,221 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Zoetis by 24.1% during the fourth quarter. CIBC Asset Management Inc now owns 237,369 shares of the company’s stock worth $38,617,000 after purchasing an additional 46,050 shares during the period. Schroder Investment Management Group grew its holdings in Zoetis by 2.6% during the fourth quarter. Schroder Investment Management Group now owns 245,726 shares of the company’s stock worth $40,036,000 after purchasing an additional 6,169 shares during the period. Vanguard Group Inc. increased its position in Zoetis by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company’s stock worth $6,739,905,000 after buying an additional 120,158 shares during the last quarter. Finally, Portside Wealth Group LLC raised its stake in Zoetis by 24.7% in the first quarter. Portside Wealth Group LLC now owns 33,709 shares of the company’s stock valued at $5,550,000 after buying an additional 6,672 shares during the period. Institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

ZTS has been the subject of several research analyst reports. Wall Street Zen upgraded Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. UBS Group cut their price target on Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Barclays lifted their price objective on shares of Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Morgan Stanley decreased their price objective on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Piper Sandler raised their target price on shares of Zoetis from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Zoetis currently has an average rating of “Buy” and an average price target of $212.75.

Insiders Place Their Bets

In other news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the sale, the executive vice president now directly owns 15,129 shares of the company’s stock, valued at approximately $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Zoetis Stock Performance

ZTS opened at $164.27 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. The business has a fifty day simple moving average of $158.67 and a 200 day simple moving average of $164.01. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The company has a market capitalization of $73.13 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.08. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the business posted $1.38 earnings per share. Zoetis’s quarterly revenue was up 1.4% on a year-over-year basis. Research analysts expect that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis’s dividend payout ratio is currently 35.91%.

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.