Hoey Investments Inc. Has $506,000 Holdings in Zoetis Inc. (NYSE:ZTS)

Hoey Investments Inc. decreased its stake in Zoetis Inc. (NYSE:ZTS) by 17.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,106 shares of the company’s stock after selling 679 shares during the quarter. Hoey Investments Inc.’s holdings in Zoetis were worth $506,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Zoetis by 82.3% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 267,482 shares of the company’s stock valued at $43,581,000 after acquiring an additional 120,732 shares during the period. Axiom Investors LLC DE increased its position in shares of Zoetis by 11.9% during the 4th quarter. Axiom Investors LLC DE now owns 490,707 shares of the company’s stock worth $79,951,000 after purchasing an additional 52,125 shares in the last quarter. AIA Group Ltd increased its position in shares of Zoetis by 25.7% during the 4th quarter. AIA Group Ltd now owns 24,367 shares of the company’s stock worth $3,970,000 after purchasing an additional 4,983 shares in the last quarter. Wellington Management Group LLP boosted its position in Zoetis by 78.5% in the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock valued at $1,133,755,000 after buying an additional 3,059,255 shares in the last quarter. Finally, Physician Wealth Advisors Inc. bought a new stake in Zoetis during the fourth quarter worth about $97,000. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ZTS shares. Leerink Partnrs upgraded shares of Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Leerink Partners assumed coverage on Zoetis in a research report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price objective for the company. StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. UBS Group initiated coverage on Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price target for the company. Finally, 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. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $215.90.

Zoetis Stock Down 1.2 %

Shares of NYSE:ZTS opened at $163.03 on Monday. 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 stock has a market cap of $73.00 billion, a price-to-earnings ratio of 29.80, a P/E/G ratio of 2.78 and a beta of 0.94. The company has a 50 day moving average of $166.40 and a 200-day moving average of $174.44. Zoetis Inc. has a one year low of $144.80 and a one year high of $200.33.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.30 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. On average, sell-side analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s payout ratio is 36.56%.

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was 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 of the company’s stock, valued at approximately $2,682,770. This trade represents a 2.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the transaction, the director now owns 11,245 shares in the company, valued at approximately $1,868,244.30. This represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,862 shares of company stock worth $312,254. Insiders own 0.16% of the company’s stock.

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.