Zoetis Inc. (NYSE:ZTS) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System decreased its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,964 shares of the company's stock after selling 2,600 shares during the quarter. State of Michigan Retirement System's holdings in Zoetis were worth $20,849,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC lifted 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 purchasing an additional 140 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Zoetis during the 3rd quarter worth $31,000. First Personal Financial Services purchased a new stake in shares of Zoetis during the 3rd quarter worth $33,000. Capital Performance Advisors LLP purchased a new stake in shares of Zoetis during the 3rd quarter worth $33,000. Finally, Dunhill Financial LLC lifted its stake in shares of Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company's stock worth $33,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

Wall Street Analyst Weigh In

ZTS has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Barclays upped their price objective on Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Stifel Nicolaus decreased their price objective on Zoetis from $210.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. UBS Group started coverage on Zoetis in a research note on Monday, December 9th. They issued a "neutral" rating and a $196.00 price target for the company. Finally, Piper Sandler increased their price target on Zoetis from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $215.90.

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Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 326 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total transaction of $55,804.68. Following the sale, the executive vice president now directly owns 16,107 shares of the company's stock, valued at $2,757,196.26. This trade represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Zoetis Stock Performance

Shares of NYSE:ZTS traded up $3.09 during trading on Friday, hitting $170.34. The stock had a trading volume of 3,296,788 shares, compared to its average volume of 3,274,650. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.33. The stock has a market capitalization of $76.28 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth 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 simple moving average of $166.72 and a two-hundred day simple moving average of $176.83.

Zoetis (NYSE:ZTS - Get Free Report) last announced 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. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The firm had revenue of $2.32 billion during the quarter, compared to analysts' expectations of $2.30 billion. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis's payout ratio is 36.56%.

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.