1832 Asset Management L.P. Sells 49,376 Shares of Zoetis Inc. (NYSE:ZTS)

1832 Asset Management L.P. lowered its stake in shares of Zoetis Inc. (NYSE:ZTSFree Report) by 45.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,373 shares of the company’s stock after selling 49,376 shares during the period. 1832 Asset Management L.P.’s holdings in Zoetis were worth $11,521,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Zoetis by 236.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 65,259 shares of the company’s stock valued at $12,880,000 after purchasing an additional 45,871 shares in the last quarter. Capital World Investors lifted its holdings in shares of Zoetis by 0.6% during the 4th quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock valued at $1,788,988,000 after purchasing an additional 57,798 shares in the last quarter. Capital International Sarl lifted its holdings in shares of Zoetis by 9.8% during the 4th quarter. Capital International Sarl now owns 181,734 shares of the company’s stock valued at $35,869,000 after purchasing an additional 16,288 shares in the last quarter. Lake Street Advisors Group LLC bought a new position in shares of Zoetis during the 4th quarter valued at about $806,000. Finally, STAR Financial Bank lifted its holdings in shares of Zoetis by 31.6% during the 4th quarter. STAR Financial Bank now owns 2,758 shares of the company’s stock valued at $544,000 after purchasing an additional 662 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 0.5 %

Shares of Zoetis stock opened at $176.78 on Friday. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The business’s 50 day moving average is $164.62 and its 200-day moving average is $179.64. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. The stock has a market cap of $80.66 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.73 and a beta of 0.88.

Zoetis (NYSE:ZTSGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the business earned $1.31 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts predict that Zoetis Inc. will post 5.76 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

ZTS has been the topic of several recent analyst reports. StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Barclays cut their price objective on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. HSBC cut their target price on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Piper Sandler restated an “overweight” rating and issued a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Finally, The Goldman Sachs Group cut their target price on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Zoetis currently has a consensus rating of “Buy” and a consensus target price of $211.75.

View Our Latest Report on ZTS

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the sale, the executive vice president now owns 14,800 shares in the company, valued at approximately $2,237,316. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.

Zoetis Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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