Nippon Life Global Investors Americas Inc. Sells 10,120 Shares of Zoetis Inc. (NYSE:ZTS)

Nippon Life Global Investors Americas Inc. cut its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 22.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,860 shares of the company's stock after selling 10,120 shares during the period. Nippon Life Global Investors Americas Inc.'s holdings in Zoetis were worth $5,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ZTS. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Zoetis by 482.8% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company's stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock valued at $28,000 after purchasing an additional 166 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Zoetis in the 4th quarter valued at $44,000. Asset Planning Inc purchased a new position in Zoetis in the 4th quarter worth about $58,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Zoetis during the 4th quarter worth about $59,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZTS has been the topic of several analyst reports. Morgan Stanley dropped their target price on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Barclays lifted 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. Stifel Nicolaus reduced their target price on Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a report on Monday, April 14th. StockNews.com upgraded Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Finally, Piper Sandler increased their price objective on Zoetis from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Zoetis presently has a consensus rating of "Buy" and an average price target of $214.40.

Zoetis Stock Up 0.8 %

NYSE ZTS traded up $1.28 during trading on Friday, reaching $153.58. The company's stock had a trading volume of 3,543,605 shares, compared to its average volume of 2,512,294. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The business has a 50-day moving average price of $158.96 and a 200-day moving average price of $168.86. The stock has a market capitalization of $68.52 billion, a PE ratio of 28.08, a PEG ratio of 2.78 and a beta of 0.92. 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 (NYSE:ZTS - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.30 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. On average, research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Monday, April 21st. Zoetis's dividend payout ratio (DPR) is currently 36.56%.

Insider Activity at Zoetis

In related news, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the sale, the director now directly owns 11,245 shares of the company's stock, valued at $1,868,244.30. This trade represents a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 directly owns 16,107 shares of the company's stock, valued at approximately $2,757,196.26. This trade represents a 1.98 % decrease in their position. 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 ninety days. 0.16% of the stock is currently owned by 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.