Princeton Capital Management LLC Sells 1,526 Shares of Zoetis Inc. (NYSE:ZTS)

Princeton Capital Management LLC decreased its position in Zoetis Inc. (NYSE:ZTS) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,962 shares of the company’s stock after selling 1,526 shares during the period. Princeton Capital Management LLC’s holdings in Zoetis were worth $1,623,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mission Wealth Management LP raised its position in Zoetis by 2.0% during the fourth quarter. Mission Wealth Management LP now owns 2,938 shares of the company’s stock worth $479,000 after acquiring an additional 59 shares in the last quarter. Hancock Whitney Corp increased its stake in shares of Zoetis by 0.3% during the 3rd quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock worth $3,628,000 after purchasing an additional 61 shares during the last quarter. VeraBank N.A. raised its holdings in shares of Zoetis by 4.1% in the 4th quarter. VeraBank N.A. now owns 1,562 shares of the company’s stock valued at $254,000 after purchasing an additional 62 shares during the period. HUB Investment Partners LLC lifted its stake in Zoetis by 4.7% in the 4th quarter. HUB Investment Partners LLC now owns 1,373 shares of the company’s stock valued at $224,000 after purchasing an additional 62 shares during the last quarter. Finally, Procyon Advisors LLC grew its holdings in Zoetis by 1.4% during the fourth quarter. Procyon Advisors LLC now owns 4,712 shares of the company’s stock worth $768,000 after purchasing an additional 63 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zoetis

In related news, 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Roxanne Lagano sold 326 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total transaction of $55,804.68. Following the transaction, the executive vice president now owns 16,107 shares of the company’s stock, valued at approximately $2,757,196.26. This represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,862 shares of company stock valued at $312,254 over the last quarter. 0.16% of the stock is owned by corporate insiders.

Zoetis Stock Performance

NYSE ZTS opened at $163.22 on Tuesday. The firm has a 50-day moving average price of $166.70 and a two-hundred day moving average price of $175.22. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.33. The company has a market capitalization of $73.09 billion, a P/E ratio of 29.84, a P/E/G ratio of 2.78 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.30 billion. Analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Monday, April 21st. Zoetis’s dividend payout ratio (DPR) is presently 36.56%.

Wall Street Analysts Forecast Growth

ZTS has been the topic of several research analyst reports. Stifel Nicolaus dropped 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. Piper Sandler increased their price target on Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, UBS Group initiated coverage on shares of Zoetis in a report on Monday, December 9th. They set a “neutral” rating and a $196.00 target price for the company. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $215.90.

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.