Zoetis Inc. (NYSE:ZTS) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ sold 38,197 shares of Zoetis Inc., reducing its position by 10.2%, leaving it with a total of 337,976 shares valued at approximately $55.6 million.
• Analysts have mixed ratings on Zoetis, with four analysts rating it as a hold, six as a buy, and one as a strong buy, as the company has a consensus target price of $204.63.
• Zoetis recently announced a quarterly dividend of $0.50 per share, resulting in a dividend yield of 1.31% and an annualized payout of $2.00.

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 10.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 337,976 shares of the company's stock after selling 38,197 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.08% of Zoetis worth $55,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Navigoe LLC acquired a new position in Zoetis during the fourth quarter worth approximately $30,000. Cornerstone Planning Group LLC increased its holdings in shares of Zoetis by 79.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after acquiring an additional 88 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in Zoetis by 87.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after purchasing an additional 120 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Zoetis during the 4th quarter worth $44,000. Finally, Sound Income Strategies LLC grew its position in 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 purchasing an additional 164 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Price Performance

Shares of NYSE:ZTS traded down $0.90 on Friday, reaching $151.92. 3,326,080 shares of the company were exchanged, compared to its average volume of 2,967,721. The company has a 50-day moving average of $159.91 and a 200-day moving average of $160.99. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. The firm has a market cap of $67.64 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 2.52 and a beta of 0.91. 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 earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.08. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the business posted $1.38 earnings per share. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 annualized dividend and a yield of 1.32%. Zoetis's dividend payout ratio is presently 35.91%.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and decreased their target price for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. UBS Group lowered their target price 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 Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Finally, Piper Sandler boosted their price objective on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $204.63.

Zoetis 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.