Neuberger Berman Group LLC Sells 119,616 Shares of Zoetis Inc. (NYSE:ZTS)

Key Points

• Neuberger Berman Group LLC has reduced its stake in Zoetis Inc. by 6.2%, selling 119,616 shares and now holding 1,804,179 shares worth approximately $297 million.
• A number of institutional investors have increased their holdings in Zoetis, with 92.80% of the stock currently owned by institutional investors, reflecting strong interest in the company.
• Analysts have mixed ratings on Zoetis, with price targets ranging from $155 to $215, indicating a cautious outlook along with buy recommendations from some analysts.

Neuberger Berman Group LLC reduced its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,804,179 shares of the company's stock after selling 119,616 shares during the quarter. Neuberger Berman Group LLC owned 0.40% of Zoetis worth $297,058,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ZTS. Navigoe LLC bought a new stake in shares of Zoetis during the 4th quarter worth $30,000. Cornerstone Planning Group LLC lifted its position in shares of Zoetis by 79.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock worth $30,000 after buying an additional 88 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Zoetis by 87.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock worth $42,000 after buying an additional 120 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Zoetis by 141.4% during the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after buying an additional 164 shares during the last quarter. Finally, Bfsg LLC increased its holdings in Zoetis by 614.6% in the 1st quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after purchasing an additional 252 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was 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 owned 15,129 shares of the company's stock, valued at approximately $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group cut their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Leerink Partnrs lowered Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and cut their price target for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and cut their price target for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. Finally, Piper Sandler reissued an "overweight" rating and set a $215.00 price target (up from $210.00) on shares of Zoetis in a research note on Monday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $202.43.

Zoetis Trading Up 0.5%

Shares of ZTS stock opened at $149.72 on Wednesday. The stock has a market cap of $66.35 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 2.43 and a beta of 0.88. The stock has a 50-day moving average of $155.89 and a 200-day moving average of $159.50. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.14. The company had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.56 earnings per share. On average, equities research analysts forecast 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 Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. Zoetis's dividend payout ratio is presently 34.42%.

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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