State of Tennessee Department of Treasury Has $27.25 Million Holdings in Zoetis Inc. (NYSE:ZTS)

State of Tennessee Department of Treasury decreased its position in Zoetis Inc. (NYSE:ZTS) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,240 shares of the company’s stock after selling 7,420 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Zoetis were worth $27,248,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ZTS. Norges Bank acquired a new position in Zoetis during the 4th quarter worth approximately $824,321,000. Wellington Management Group LLP boosted its holdings in Zoetis by 78.5% during 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 during the last quarter. Raymond James Financial Inc. bought a new position in Zoetis in the fourth quarter valued at $196,651,000. Polen Capital Management LLC increased its stake in 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 buying an additional 1,116,541 shares during the last quarter. Finally, Capital Research Global Investors acquired a new stake in Zoetis in the 4th quarter valued at $178,688,000. 92.80% of the stock is currently owned by institutional investors.

Zoetis Stock Down 1.2 %

ZTS stock opened at $146.85 on Tuesday. The business’s fifty day moving average price is $159.49 and its two-hundred day moving average price is $169.35. The stock has a market capitalization of $65.52 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 2.78 and a beta of 0.92. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $200.33. 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 (NYSE:ZTS) last announced its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.30 billion. On average, equities analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s payout ratio is currently 36.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley decreased their price objective on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Stifel Nicolaus reduced their price target on Zoetis from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Piper Sandler boosted their price target on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. StockNews.com raised Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Finally, Barclays boosted their target price on shares of Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. One equities 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 stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $214.40.

Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $170.00, for a total value of $55,420.00. Following the sale, the executive vice president now owns 15,781 shares of the company’s stock, valued at approximately $2,682,770. This trade represents a 2.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Willie M. Reed sold 1,210 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the transaction, the director now directly owns 11,245 shares of the company’s stock, valued at $1,868,244.30. This trade represents a 9.71 % 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 over the last quarter. 0.16% of the stock is owned by company insiders.

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.