Moors & Cabot Inc. Lowers Stake in Zoetis Inc. (NYSE:ZTS)

Moors & Cabot Inc. lessened its stake in shares of Zoetis Inc. (NYSE:ZTS) by 37.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,278 shares of the company’s stock after selling 9,668 shares during the period. Moors & Cabot Inc.’s holdings in Zoetis were worth $2,803,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Zoetis by 163,671.8% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 480,424,669 shares of the company’s stock valued at $82,733,932,000 after buying an additional 480,131,319 shares during the period. Wellington Management Group LLP lifted its holdings in Zoetis by 3.4% in the first quarter. Wellington Management Group LLP now owns 12,007,840 shares of the company’s stock valued at $1,998,585,000 after acquiring an additional 391,166 shares during the period. Morgan Stanley boosted its position in Zoetis by 34.6% in the fourth quarter. Morgan Stanley now owns 10,872,704 shares of the company’s stock worth $1,593,395,000 after purchasing an additional 2,796,694 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Zoetis by 27.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,275,493 shares of the company’s stock valued at $1,710,254,000 after purchasing an additional 2,204,517 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Zoetis by 0.3% in the 1st quarter. Geode Capital Management LLC now owns 9,739,370 shares of the company’s stock worth $1,617,464,000 after purchasing an additional 27,097 shares during the period. 89.47% of the stock is owned by institutional investors.

Zoetis Price Performance

Shares of NYSE:ZTS traded up $1.60 during midday trading on Thursday, reaching $176.22. 111,786 shares of the company were exchanged, compared to its average volume of 1,968,606. The company has a current ratio of 3.87, a quick ratio of 2.16 and a debt-to-equity ratio of 1.29. The stock has a market cap of $80.90 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.72 and a beta of 0.83. The business’s fifty day moving average is $172.30 and its two-hundred day moving average is $175.70. Zoetis Inc. has a one year low of $140.76 and a one year high of $194.99.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st will be issued a $0.375 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $1.50 annualized dividend and a dividend yield of 0.85%. Zoetis’s dividend payout ratio (DPR) is 30.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ZTS shares. StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 8th. Argus upped their price target on Zoetis from $190.00 to $201.00 in a research report on Tuesday, September 19th. HSBC began coverage on Zoetis in a research report on Wednesday, September 6th. They set a “buy” rating and a $230.00 price objective on the stock. Piper Sandler upped their price target on shares of Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, November 6th. Finally, Stifel Nicolaus dropped their target price on shares of Zoetis from $205.00 to $195.00 and set a “buy” rating for the company in a report on Monday, October 30th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $216.29.

Insider Buying and Selling

In other news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $172.92, for a total transaction of $159,605.16. Following the completion of the transaction, the executive vice president now directly owns 23,588 shares in the company, valued at approximately $4,078,836.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zoetis news, EVP Heidi C. Chen sold 9,905 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $180.15, for a total transaction of $1,784,385.75. Following the completion of the transaction, the executive vice president now owns 27,478 shares in the company, valued at $4,950,161.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $172.92, for a total value of $159,605.16. Following the transaction, the executive vice president now owns 23,588 shares of the company’s stock, valued at approximately $4,078,836.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,674 shares of company stock worth $4,627,465. Corporate insiders own 0.15% of the company’s stock.

About Zoetis

Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It 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.