NFJ Investment Group LLC Trims Holdings in Zoetis Inc. (NYSE:ZTS)

NFJ Investment Group LLC lessened its stake in shares of Zoetis Inc. (NYSE:ZTS) by 14.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 181,735 shares of the company’s stock after selling 30,212 shares during the quarter. Zoetis comprises 1.0% of NFJ Investment Group LLC’s portfolio, making the stock its 26th largest holding. NFJ Investment Group LLC’s holdings in Zoetis were worth $29,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZTS. Vanguard Group Inc. lifted its stake in Zoetis by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company’s stock worth $6,739,905,000 after purchasing an additional 120,158 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Zoetis by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 10,617,897 shares of the company’s stock worth $1,726,075,000 after purchasing an additional 190,137 shares during the period. Polen Capital Management LLC raised its position in shares of Zoetis by 17.5% in the fourth quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock worth $1,219,237,000 after buying an additional 1,116,541 shares in the last quarter. Wellington Management Group LLP boosted its stake in Zoetis by 78.5% during the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock valued at $1,133,755,000 after buying an additional 3,059,255 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Zoetis by 8.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,561,910 shares of the company’s stock worth $906,202,000 after buying an additional 433,429 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Zoetis Price Performance

ZTS opened at $149.15 on Wednesday. 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 $139.70 and a 1 year high of $200.33. The stock’s 50 day simple moving average is $161.51 and its 200 day simple moving average is $170.76. The firm has a market cap of $66.55 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 2.78 and a beta of 0.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.30 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. As a group, analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. Zoetis’s dividend payout ratio is presently 36.56%.

Insider Buying and Selling at Zoetis

In other news, Director Willie M. Reed sold 1,210 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 11,245 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was 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 directly owns 16,107 shares of the company’s stock, valued at $2,757,196.26. The trade was a 1.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,862 shares of company stock valued at $312,254 in the last 90 days. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Morgan Stanley dropped their target price on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Barclays increased their price target on shares of Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Piper Sandler lifted their price objective on shares of Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, Stifel Nicolaus reduced their target price on Zoetis from $180.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $214.40.

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.