Truist Financial Corp Sells 40,313 Shares of Zoetis Inc. (NYSE:ZTS)

Truist Financial Corp lessened its stake in Zoetis Inc. (NYSE:ZTS) by 18.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,903 shares of the company’s stock after selling 40,313 shares during the period. Truist Financial Corp’s holdings in Zoetis were worth $34,126,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ZTS. Vaughan Nelson Investment Management L.P. bought a new position in Zoetis in the 3rd quarter worth approximately $176,219,000. Alphinity Investment Management Pty Ltd raised its position in Zoetis by 214.7% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 824,148 shares of the company’s stock worth $162,662,000 after purchasing an additional 562,259 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Zoetis by 27,671.0% during the 4th quarter. International Assets Investment Management LLC now owns 479,328 shares of the company’s stock worth $94,605,000 after acquiring an additional 477,602 shares during the period. Envestnet Asset Management Inc. grew its holdings in Zoetis by 34.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,562,044 shares of the company’s stock worth $271,764,000 after acquiring an additional 403,164 shares during the period. Finally, Natixis Advisors L.P. grew its holdings in Zoetis by 53.9% during the 3rd quarter. Natixis Advisors L.P. now owns 941,219 shares of the company’s stock worth $163,753,000 after acquiring an additional 329,543 shares during the period. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of ZTS stock opened at $158.42 on Monday. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The firm has a market capitalization of $72.45 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 2.42 and a beta of 0.85. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32. The firm has a fifty day moving average of $171.79 and a 200-day moving average of $179.33.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.08). The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.19 billion. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 earnings per share. On average, equities research analysts forecast that Zoetis Inc. will post 5.79 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be given a $0.432 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.73 annualized dividend and a yield of 1.09%. Zoetis’s dividend payout ratio is currently 34.12%.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $173.33, for a total value of $159,983.59. Following the sale, the executive vice president now directly owns 15,723 shares of the company’s stock, valued at approximately $2,725,267.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have sold 2,209 shares of company stock valued at $371,293. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on ZTS shares. Barclays lowered their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Stifel Nicolaus lowered their target price on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. The Goldman Sachs Group lifted their target price on shares of Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, StockNews.com lowered shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $218.00.

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.