In Depth Partners LLC Lowers Holdings in Zoetis Inc. (NYSE:ZTS)

In Depth Partners LLC cut its position in shares of Zoetis Inc. (NYSE:ZTS) by 45.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,274 shares of the company’s stock after selling 15,454 shares during the quarter. Zoetis comprises 3.2% of In Depth Partners LLC’s portfolio, making the stock its 11th biggest position. In Depth Partners LLC’s holdings in Zoetis were worth $2,977,000 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. Vanguard Group Inc. increased its holdings in shares of Zoetis by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company’s stock valued at $6,739,905,000 after purchasing an additional 120,158 shares during the period. Geode Capital Management LLC lifted its position in shares of Zoetis by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 10,617,897 shares of the company’s stock worth $1,726,075,000 after acquiring an additional 190,137 shares during the period. Polen Capital Management LLC grew its stake in shares of Zoetis by 17.5% in the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock valued at $1,219,237,000 after purchasing an additional 1,116,541 shares during the period. Wellington Management Group LLP boosted its stake in Zoetis by 78.5% in the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock worth $1,133,755,000 after purchasing an additional 3,059,255 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Zoetis by 8.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,561,910 shares of the company’s stock valued at $906,202,000 after buying an additional 433,429 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Trading Down 1.2 %

Zoetis stock opened at $146.85 on Tuesday. 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 one year low of $139.70 and a one year high of $200.33. The firm has a 50-day moving average of $159.49 and a 200-day moving average of $169.35. The company has a market cap of $65.52 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 2.78 and a beta of 0.92.

Zoetis (NYSE:ZTS) last released 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 business had revenue of $2.32 billion for 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%. On average, equities analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 annualized dividend and a yield of 1.36%. Zoetis’s dividend payout ratio (DPR) is 36.56%.

Insider Activity

In other news, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the sale, the director now owns 11,245 shares of the company’s stock, valued at approximately $1,868,244.30. This trade represents a 9.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 15,781 shares in the company, valued at $2,682,770. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,862 shares of company stock worth $312,254. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ZTS shares. Stifel Nicolaus decreased their price objective on Zoetis from $180.00 to $165.00 and set a “buy” rating for the company in a report on Monday, April 14th. StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Morgan Stanley dropped their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Barclays raised their price objective on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Piper Sandler upped 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. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Zoetis currently has a consensus rating of “Buy” and an average target price of $214.40.

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.