Kentucky Retirement Systems Insurance Trust Fund Lowers Stake in Zoetis Inc. (NYSE:ZTS)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 7.4% in the first quarter, Holdings Channel reports. The institutional investor owned 15,151 shares of the company’s stock after selling 1,205 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Zoetis were worth $2,564,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Hohimer Wealth Management LLC lifted its holdings in Zoetis by 1.2% during the fourth quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock worth $866,000 after buying an additional 52 shares during the period. Forum Financial Management LP lifted its holdings in Zoetis by 0.8% during the fourth quarter. Forum Financial Management LP now owns 7,386 shares of the company’s stock worth $1,458,000 after buying an additional 56 shares during the period. Angeles Wealth Management LLC lifted its holdings in Zoetis by 3.5% during the fourth quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock worth $324,000 after buying an additional 56 shares during the period. Prossimo Advisors LLC lifted its holdings in Zoetis by 1.7% during the fourth quarter. Prossimo Advisors LLC now owns 3,498 shares of the company’s stock worth $690,000 after buying an additional 57 shares during the period. Finally, River Street Advisors LLC lifted its holdings in Zoetis by 3.4% during the fourth quarter. River Street Advisors LLC now owns 1,757 shares of the company’s stock worth $347,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ZTS shares. Barclays lowered their price objective on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. BTIG Research started coverage on Zoetis in a report on Thursday. They issued a “buy” rating and a $220.00 price target for the company. The Goldman Sachs Group dropped their price target on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Stifel Nicolaus dropped their price target on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, Piper Sandler restated an “overweight” rating and set a $195.00 price target (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $212.67.

Zoetis Stock Performance

NYSE ZTS traded down $0.92 during trading hours on Friday, reaching $179.84. The stock had a trading volume of 2,437,326 shares, compared to its average volume of 1,885,429. The stock has a fifty day moving average of $174.51 and a 200 day moving average of $176.16. The stock has a market cap of $82.06 billion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.79 and a beta of 0.86. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33.

Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. Zoetis’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 earnings per share. Sell-side analysts predict that Zoetis Inc. will post 5.76 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be given a $0.432 dividend. The ex-dividend date is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a yield of 0.96%. Zoetis’s dividend payout ratio is currently 33.33%.

Zoetis 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.