Everence Capital Management Inc. Lowers Stake in Zoetis Inc (NYSE:ZTS)

Everence Capital Management Inc. reduced its stake in shares of Zoetis Inc (NYSE:ZTS) by 15.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,025 shares of the company’s stock after selling 2,340 shares during the quarter. Everence Capital Management Inc.’s holdings in Zoetis were worth $1,623,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ZTS. TIAA FSB lifted its stake in Zoetis by 0.4% in the third quarter. TIAA FSB now owns 36,685 shares of the company’s stock worth $4,571,000 after acquiring an additional 154 shares during the period. Chesley Taft & Associates LLC lifted its stake in Zoetis by 1.7% in the third quarter. Chesley Taft & Associates LLC now owns 24,555 shares of the company’s stock worth $3,059,000 after acquiring an additional 400 shares during the period. Bath Savings Trust Co lifted its position in shares of Zoetis by 26.9% during the third quarter. Bath Savings Trust Co now owns 9,253 shares of the company’s stock valued at $1,153,000 after buying an additional 1,960 shares during the last quarter. Centric Wealth Management lifted its position in shares of Zoetis by 1.3% during the third quarter. Centric Wealth Management now owns 11,547 shares of the company’s stock valued at $1,412,000 after buying an additional 148 shares during the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of Zoetis by 21.0% during the third quarter. Fulton Bank N.A. now owns 4,808 shares of the company’s stock valued at $599,000 after buying an additional 836 shares during the last quarter. 90.09% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Kristin C. Peck sold 11,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $123.22, for a total transaction of $1,417,030.00. Following the transaction, the executive vice president now owns 48,877 shares in the company, valued at $6,022,623.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Clinton A. Jr. Lewis sold 6,123 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $113.09, for a total transaction of $692,450.07. Following the transaction, the insider now owns 46,812 shares in the company, valued at approximately $5,293,969.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,332 shares of company stock worth $4,163,091. Corporate insiders own 0.29% of the company’s stock.

Shares of ZTS traded up $0.90 during mid-day trading on Wednesday, hitting $126.28. 53,617 shares of the company traded hands, compared to its average volume of 2,103,358. Zoetis Inc has a 1-year low of $78.90 and a 1-year high of $130.08. The company has a quick ratio of 2.87, a current ratio of 4.17 and a debt-to-equity ratio of 2.74. The company has a market capitalization of $60.67 billion, a PE ratio of 40.34, a price-to-earnings-growth ratio of 3.21 and a beta of 0.87. The business has a 50 day moving average of $125.13 and a 200 day moving average of $112.56.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.08. Zoetis had a net margin of 22.74% and a return on equity of 72.86%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts expect that Zoetis Inc will post 3.57 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, October 22nd will be issued a dividend of $0.164 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.52%. Zoetis’s dividend payout ratio (DPR) is currently 21.09%.

Several analysts have commented on ZTS shares. Craig Hallum increased their price target on shares of Zoetis from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Argus set a $140.00 price target on shares of Zoetis and gave the company a “buy” rating in a research report on Wednesday, September 4th. Barclays increased their price target on shares of Zoetis from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Stifel Nicolaus set a $140.00 price target on shares of Zoetis and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Bank of America lowered shares of Zoetis from a “buy” rating to a “neutral” rating and increased their price target for the company from $111.00 to $120.00 in a research report on Monday, July 1st. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $123.19.

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 companion animals comprising dogs, cats, and horses.

Further Reading: G-20

Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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