Zoetis Inc. (NYSE:ZTS) Position Lowered by State Farm Mutual Automobile Insurance Co.

State Farm Mutual Automobile Insurance Co. reduced its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,011,510 shares of the company's stock after selling 26,093 shares during the period. Zoetis comprises about 2.4% of State Farm Mutual Automobile Insurance Co.'s holdings, making the stock its 14th largest holding. State Farm Mutual Automobile Insurance Co. owned about 3.55% of Zoetis worth $2,608,755,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Callahan Advisors LLC increased its holdings in Zoetis by 90.4% during the 4th quarter. Callahan Advisors LLC now owns 13,105 shares of the company's stock worth $2,135,000 after purchasing an additional 6,221 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Zoetis by 24.1% in the fourth quarter. CIBC Asset Management Inc now owns 237,369 shares of the company's stock valued at $38,617,000 after buying an additional 46,050 shares during the last quarter. Pensionfund Sabic lifted its holdings in shares of Zoetis by 55.6% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the company's stock worth $1,825,000 after purchasing an additional 4,000 shares during the period. PFW Advisors LLC acquired a new stake in shares of Zoetis in the 4th quarter worth $1,764,000. Finally, Alberta Investment Management Corp raised its holdings in Zoetis by 2,050.0% during the fourth quarter. Alberta Investment Management Corp now owns 30,100 shares of the company's stock worth $4,904,000 after purchasing an additional 28,700 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Piper Sandler boosted their target price on Zoetis from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. StockNews.com raised Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Morgan Stanley reduced 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. UBS Group assumed coverage on shares of Zoetis in a research report on Monday, December 9th. They set a "neutral" rating and a $196.00 target price on the stock. Finally, Barclays upped their target price on Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $215.90.

Zoetis Trading Up 0.7 %

Shares of ZTS stock traded up $1.17 during mid-day trading on Wednesday, reaching $163.08. The company's stock had a trading volume of 822,018 shares, compared to its average volume of 2,593,679. The company's 50 day simple moving average is $166.26 and its 200-day simple moving average is $174.05. The company has a quick ratio of 1.08, a current ratio of 1.75 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 firm has a market capitalization of $73.03 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.03. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The company had revenue of $2.32 billion for the quarter, compared to analysts' expectations of $2.30 billion. On average, research analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.23%. The ex-dividend date is Monday, April 21st. Zoetis's dividend payout ratio (DPR) is 36.56%.

Insider Activity

In related news, Director Willie M. Reed sold 1,210 shares of the business'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 transaction, the director now owns 11,245 shares in the company, valued at approximately $1,868,244.30. The trade was a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Roxanne Lagano sold 326 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.00, for a total value of $55,420.00. Following the sale, the executive vice president now owns 15,781 shares of the company's stock, valued at approximately $2,682,770. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,862 shares of company stock worth $312,254 over the last 90 days. Company insiders own 0.16% of the company's stock.

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.