Zoetis Inc. (NYSE:ZTS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,829 shares of the company's stock after selling 7,041 shares during the period. Corebridge Financial Inc.'s holdings in Zoetis were worth $20,013,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Zoetis by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company's stock valued at $6,739,905,000 after buying an additional 120,158 shares during the period. Napatree Capital LLC raised its holdings in shares of Zoetis by 15.2% in the 4th quarter. Napatree Capital LLC now owns 3,123 shares of the company's stock valued at $509,000 after purchasing an additional 411 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Zoetis in the 4th quarter worth approximately $548,000. LPL Financial LLC boosted its stake in shares of Zoetis by 10.4% during the fourth quarter. LPL Financial LLC now owns 396,851 shares of the company's stock valued at $64,722,000 after purchasing an additional 37,275 shares in the last quarter. Finally, Fox Run Management L.L.C. increased its holdings in Zoetis by 512.3% during the fourth quarter. Fox Run Management L.L.C. now owns 9,148 shares of the company's stock valued at $1,490,000 after buying an additional 7,654 shares during the period. 92.80% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ZTS shares. Piper Sandler lifted their price objective on shares of Zoetis from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Morgan Stanley decreased their target price on Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Barclays upped their price target on shares of Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Leerink Partnrs upgraded Zoetis to a "strong-buy" rating in a research note on Monday, December 2nd. Finally, Stifel Nicolaus reduced their price target on Zoetis from $210.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $215.90.

Insider Transactions at Zoetis

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

Zoetis Price Performance

Shares of Zoetis stock traded down $1.99 on Friday, reaching $163.03. The company's stock had a trading volume of 1,550,283 shares, compared to its average volume of 2,595,079. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $200.33. The company has a market capitalization of $73.00 billion, a P/E ratio of 29.80, a PEG ratio of 2.78 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $166.40 and a 200-day moving average price of $174.55.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $2.30 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. Analysts expect that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Monday, April 21st. Zoetis's payout ratio is 36.56%.

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.