Handelsbanken Fonder AB Sells 6,411 Shares of Zoetis Inc. (NYSE:ZTS)

Handelsbanken Fonder AB trimmed its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 190,757 shares of the company's stock after selling 6,411 shares during the quarter. Handelsbanken Fonder AB's holdings in Zoetis were worth $31,408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of Zoetis by 180.4% during the fourth quarter. Brighton Jones LLC now owns 4,629 shares of the company's stock worth $754,000 after purchasing an additional 2,978 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Zoetis in the fourth quarter valued at about $1,646,000. Kingsview Wealth Management LLC raised its stake in Zoetis by 1.0% in the 4th quarter. Kingsview Wealth Management LLC now owns 9,986 shares of the company's stock worth $1,627,000 after purchasing an additional 97 shares in the last quarter. Savant Capital LLC boosted its holdings in Zoetis by 5.3% in the 4th quarter. Savant Capital LLC now owns 6,271 shares of the company's stock valued at $1,022,000 after purchasing an additional 313 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Zoetis during the 4th quarter worth approximately $63,000. Institutional investors own 92.80% of the company's stock.

Zoetis Stock Performance

Shares of NYSE:ZTS traded up $1.73 during trading on Thursday, hitting $168.06. 902,910 shares of the company were exchanged, compared to its average volume of 2,541,327. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. The stock has a 50 day moving average of $157.87 and a 200 day moving average of $164.16. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. The company has a market cap of $74.82 billion, a PE ratio of 30.72, a P/E/G ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.40 by $0.08. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company earned $1.38 EPS. The firm's revenue was up 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.19%. Zoetis's dividend payout ratio (DPR) is currently 35.91%.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the completion of the sale, the executive vice president now directly owns 15,129 shares in the company, valued at approximately $2,571,930. The trade was a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

ZTS has been the topic of several recent analyst reports. Piper Sandler raised their target price on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Wall Street Zen raised Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. UBS Group lowered their price objective on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Barclays raised 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, Stifel Nicolaus reduced their price objective on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $212.75.

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.