CIBC Private Wealth Group LLC Has $156.72 Million Holdings in Zoetis Inc. (NYSE:ZTS)

CIBC Private Wealth Group LLC trimmed its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 949,714 shares of the company's stock after selling 25,376 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.21% of Zoetis worth $156,722,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Zoetis in the 4th quarter valued at $824,321,000. Raymond James Financial Inc. bought a new stake in Zoetis in the fourth quarter valued at about $196,651,000. Polen Capital Management LLC raised its position in Zoetis by 17.5% in the fourth quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company's stock worth $1,219,237,000 after purchasing an additional 1,116,541 shares in the last quarter. Amundi lifted its stake in Zoetis by 46.2% during the fourth quarter. Amundi now owns 2,748,719 shares of the company's stock worth $453,355,000 after purchasing an additional 867,993 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Zoetis by 296.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 889,444 shares of the company's stock valued at $144,917,000 after purchasing an additional 665,331 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Insider Transactions at Zoetis

In other news, Director Willie M. Reed sold 1,210 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the sale, the director now directly owns 11,245 shares of the company's stock, valued at $1,868,244.30. This represents a 9.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.00, for a total transaction of $55,420.00. Following the completion of the sale, the executive vice president now owns 15,781 shares in the company, valued at $2,682,770. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,862 shares of company stock worth $312,254 in the last quarter. 0.16% of the stock is owned by company insiders.

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Zoetis Price Performance

Shares of Zoetis stock traded up $1.68 during midday trading on Wednesday, reaching $163.59. The company had a trading volume of 2,026,181 shares, compared to its average volume of 2,598,345. The stock has a fifty day simple moving average of $166.26 and a 200 day simple moving average of $174.05. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $200.33. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $73.25 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. As a group, equities research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, April 21st. Zoetis's dividend payout ratio is 36.56%.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of recent research reports. StockNews.com raised Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Morgan Stanley cut their price objective on Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Stifel Nicolaus lowered their target price on shares of Zoetis from $210.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Barclays increased their target price on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Finally, UBS Group assumed coverage on shares of Zoetis in a research report on Monday, December 9th. They issued a "neutral" rating and a $196.00 price target on the stock. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Zoetis has an average rating of "Buy" and a consensus price target of $215.90.

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.