Zoetis Inc. (NYSE:ZTS) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 283,670 shares of the company's stock after selling 13,965 shares during the quarter. M&T Bank Corp owned 0.06% of Zoetis worth $46,218,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC grew its stake in shares of Zoetis by 13,726.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company's stock valued at $950,524,000 after purchasing an additional 4,829,815 shares during the period. Assenagon Asset Management S.A. increased its position in Zoetis by 296.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 889,444 shares of the company's stock worth $144,917,000 after purchasing an additional 665,331 shares during the period. Nordea Investment Management AB boosted its stake in Zoetis by 38.3% in the fourth quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company's stock valued at $336,266,000 after acquiring an additional 572,511 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Zoetis during the third quarter worth $110,809,000. Finally, Alecta Tjanstepension Omsesidigt bought a new position in Zoetis during the 4th quarter worth approximately $83,835,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Performance

ZTS stock traded down $2.94 on Wednesday, hitting $166.96. The company had a trading volume of 3,667,422 shares, compared to its average volume of 3,280,360. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.33. The stock has a market cap of $74.76 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 2.78 and a beta of 0.94. The stock's 50-day simple moving average is $166.57 and its 200 day simple moving average is $176.99.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analysts' expectations 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 expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis's dividend payout ratio is presently 36.56%.

Wall Street Analyst Weigh In

Several research firms have commented on ZTS. UBS Group initiated coverage on Zoetis in a research note on Monday, December 9th. They issued a "neutral" rating and a $196.00 target price on the stock. Leerink Partnrs raised Zoetis to a "strong-buy" rating in a report on Monday, December 2nd. Leerink Partners assumed coverage on Zoetis in a research report on Monday, December 2nd. They issued an "outperform" rating and a $215.00 target price on the stock. Stifel Nicolaus decreased their target price on shares of Zoetis from $210.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays upped their price objective 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. Two investment analysts have 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 MarketBeat, Zoetis presently has an average rating of "Buy" and a consensus price target of $215.90.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the completion of the transaction, the executive vice president now owns 16,107 shares in the company, valued at approximately $2,757,196.26. The trade was a 1.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

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.