Cullinan Associates Inc. Sells 2,400 Shares of Zoetis Inc. (NYSE:ZTS)

Cullinan Associates Inc. lessened its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 49.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,500 shares of the company's stock after selling 2,400 shares during the period. Cullinan Associates Inc.'s holdings in Zoetis were worth $412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. raised its stake in shares of 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 acquiring an additional 166 shares in the last quarter. Navigoe LLC bought a new stake in shares of Zoetis during the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Zoetis during the fourth quarter valued at approximately $44,000. Sound Income Strategies LLC raised its stake in shares of Zoetis by 141.4% during the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after acquiring an additional 164 shares in the last quarter. Finally, Bfsg LLC raised its stake in shares of Zoetis by 614.6% during the first quarter. Bfsg LLC now owns 293 shares of the company's stock valued at $48,000 after acquiring an additional 252 shares in the last quarter. Institutional investors own 92.80% of the company's stock.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the transaction, the executive vice president now owns 15,129 shares in the company, valued at $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.16% of the company's stock.

Zoetis Stock Performance

Shares of ZTS stock opened at $157.26 on Monday. The business's fifty day simple moving average is $159.58 and its 200-day simple moving average is $163.23. The company has a market cap of $70.01 billion, a PE ratio of 28.23, a PEG ratio of 2.61 and a beta of 0.94. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The business's quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. Analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's payout ratio is currently 35.91%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ZTS. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and decreased their price target for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. UBS Group reduced their price objective on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen raised shares of Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Piper Sandler boosted their price objective on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $212.13.

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.

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