Penobscot Investment Management Company Inc. Acquires 2,084 Shares of Zoetis Inc. (NYSE:ZTS)

Penobscot Investment Management Company Inc. lifted its position in shares of Zoetis Inc. (NYSE:ZTS) by 24.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,704 shares of the company’s stock after purchasing an additional 2,084 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Zoetis were worth $2,113,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in ZTS. Brookstone Capital Management boosted its holdings in shares of Zoetis by 144.1% in the 3rd quarter. Brookstone Capital Management now owns 13,030 shares of the company’s stock valued at $2,190,000 after purchasing an additional 7,692 shares in the last quarter. PDS Planning Inc boosted its holdings in shares of Zoetis by 3.6% during the 3rd quarter. PDS Planning Inc now owns 2,291 shares of the company’s stock valued at $399,000 after acquiring an additional 80 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Zoetis by 3.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 177,180 shares of the company’s stock worth $30,826,000 after purchasing an additional 5,764 shares during the last quarter. Vicus Capital bought a new position in Zoetis during the 3rd quarter worth $309,000. Finally, Robeco Institutional Asset Management B.V. raised its position in Zoetis by 0.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 666,276 shares of the company’s stock worth $115,919,000 after purchasing an additional 5,999 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZTS. Stifel Nicolaus lowered their price objective on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com downgraded Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group boosted their target price on Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Finally, Barclays lowered their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $216.13.

Insider Buying and Selling at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total value of $139,529.91. Following the completion of the transaction, the executive vice president now owns 14,800 shares of the company’s stock, valued at $2,237,316. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 2,209 shares of company stock worth $371,293 over the last 90 days. Company insiders own 0.16% of the company’s stock.

Zoetis Stock Down 0.1 %

Shares of Zoetis stock traded down $0.11 during midday trading on Tuesday, hitting $159.59. The company had a trading volume of 1,607,709 shares, compared to its average volume of 3,121,541. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36. The stock has a market capitalization of $72.99 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.42 and a beta of 0.85. The company has a 50 day moving average of $171.21 and a 200 day moving average of $179.23. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $1.15 earnings per share. On average, equities analysts predict that Zoetis Inc. will post 5.79 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be given a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.08%. Zoetis’s dividend payout ratio (DPR) is presently 34.12%.

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.