iA Global Asset Management Inc. Cuts Holdings in Zoetis Inc. (NYSE:ZTS)

iA Global Asset Management Inc. decreased its position in Zoetis Inc. (NYSE:ZTS) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,161 shares of the company’s stock after selling 4,343 shares during the period. iA Global Asset Management Inc.’s holdings in Zoetis were worth $3,448,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new stake in Zoetis during the third quarter worth $31,000. Dunhill Financial LLC raised 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 period. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Zoetis by 482.8% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Rakuten Securities Inc. grew its position in 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 buying an additional 166 shares during the period. Finally, Quarry LP increased its holdings in Zoetis by 45.9% during the third quarter. Quarry LP now owns 305 shares of the company’s stock worth $60,000 after buying an additional 96 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Insider Activity

In other news, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,862 shares of company stock worth $312,254. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ZTS shares. StockNews.com raised shares of Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Morgan Stanley cut their price target 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 boosted their price objective on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Piper Sandler boosted their price target on shares of Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $215.90.

Zoetis Trading Down 0.4 %

Shares of ZTS opened at $163.15 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $200.33. The company has a market capitalization of $73.06 billion, a P/E ratio of 29.83, a P/E/G ratio of 2.78 and a beta of 0.94. The firm’s 50 day simple moving average is $166.77 and its 200 day simple moving average is $175.67.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Sell-side analysts forecast 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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Monday, April 21st. Zoetis’s payout ratio is currently 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.