Campbell Newman Asset Management Inc. Reduces Stake in Zoetis Inc. (NYSE:ZTS)

Campbell Newman Asset Management Inc. lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,194 shares of the company’s stock after selling 12,163 shares during the period. Zoetis accounts for 1.3% of Campbell Newman Asset Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Campbell Newman Asset Management Inc.’s holdings in Zoetis were worth $15,836,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of ZTS. Cherry Creek Investment Advisors Inc. raised its stake in shares of Zoetis by 2.0% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock valued at $590,000 after buying an additional 58 shares during the period. Grove Bank & Trust raised its stake in Zoetis by 0.5% in the 3rd quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock valued at $2,298,000 after acquiring an additional 61 shares during the period. Hancock Whitney Corp lifted its holdings in Zoetis by 0.3% during the third quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock valued at $3,628,000 after purchasing an additional 61 shares during the last quarter. Strategy Asset Managers LLC boosted its position in Zoetis by 3.5% during the third quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company’s stock worth $356,000 after purchasing an additional 62 shares during the period. Finally, Edge Capital Group LLC increased its stake in shares of Zoetis by 3.7% in the second quarter. Edge Capital Group LLC now owns 1,786 shares of the company’s stock worth $310,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 1.5 %

Zoetis stock traded up $2.52 during mid-day trading on Wednesday, reaching $166.93. 164,626 shares of the company traded hands, compared to its average volume of 2,361,939. The firm’s 50 day moving average price is $171.31 and its 200 day moving average price is $180.16. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $200.53. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. The firm has a market capitalization of $75.31 billion, a price-to-earnings ratio of 31.38, a P/E/G ratio of 2.91 and a beta of 0.89.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Tuesday, January 21st. This is an increase from Zoetis’s previous quarterly dividend of $0.43. Zoetis’s dividend payout ratio is currently 37.59%.

Analysts Set New Price Targets

A number of brokerages recently commented on ZTS. Leerink Partnrs upgraded shares of Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. boosted their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. UBS Group began coverage on Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price target for the company. Stifel Nicolaus decreased their price objective on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Leerink Partners assumed coverage on Zoetis in a report on Monday, December 2nd. They set an “outperform” rating and a $215.00 target price for the company. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $211.89.

Zoetis Company 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.