Zoetis Inc. (NYSE:ZTS) Stock Position Cut by Capital World Investors

Capital World Investors cut its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,562,769 shares of the company's stock after selling 121,210 shares during the quarter. Capital World Investors owned approximately 1.45% of Zoetis worth $1,069,251,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC increased its stake in shares of Zoetis by 482.8% during the fourth 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 in the last quarter. Rakuten Securities Inc. grew 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 worth $28,000 after buying an additional 166 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Zoetis during the fourth quarter worth $44,000. Asset Planning Inc acquired a new position in shares of Zoetis during the 4th quarter worth $58,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Zoetis during the fourth quarter valued at approximately $59,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ZTS shares. 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. 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. Stifel Nicolaus lowered their price target on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Piper Sandler upped their price target on Zoetis from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Finally, StockNews.com upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $214.40.

Insider Activity

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total transaction of $201,029.40. Following the transaction, the director now directly owns 11,245 shares in the company, valued at approximately $1,868,244.30. This represents a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the sale, the executive vice president now owns 16,107 shares of the company's stock, valued at approximately $2,757,196.26. This represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,862 shares of company stock worth $312,254 over the last three months. Insiders own 0.16% of the company's stock.

Zoetis Price Performance

NYSE:ZTS traded up $1.09 on Wednesday, reaching $151.08. 2,093,141 shares of the company's stock traded hands, compared to its average volume of 2,522,362. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. 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 $159.19 and a 200-day simple moving average of $169.22. The firm has a market cap of $67.41 billion, a PE ratio of 27.62, a P/E/G ratio of 2.78 and a beta of 0.92.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. The firm 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%. Equities research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis's payout ratio is 36.56%.

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.