USS Investment Management Ltd Cuts Position in Zoetis Inc. (NYSE:ZTS)

USS Investment Management Ltd reduced its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 10.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 95,325 shares of the company's stock after selling 10,698 shares during the period. USS Investment Management Ltd's holdings in Zoetis were worth $15,542,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Zoetis by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company's stock valued at $6,739,905,000 after purchasing an additional 120,158 shares during the last quarter. Geode Capital Management LLC lifted its stake in Zoetis by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 10,617,897 shares of the company's stock valued at $1,726,075,000 after purchasing an additional 190,137 shares during the last quarter. Polen Capital Management LLC lifted 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 purchasing an additional 1,116,541 shares during the last quarter. Wellington Management Group LLP lifted its stake in Zoetis by 78.5% in the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock valued at $1,133,755,000 after purchasing an additional 3,059,255 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Zoetis by 13.3% in the 4th quarter. Northern Trust Corp now owns 6,426,394 shares of the company's stock valued at $1,047,052,000 after purchasing an additional 755,893 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

Shares of ZTS traded up $0.95 on Friday, reaching $162.92. The company's stock had a trading volume of 2,732,205 shares, compared to its average volume of 2,526,123. 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 stock has a market capitalization of $72.53 billion, a P/E ratio of 29.78, a PEG ratio of 2.78 and a beta of 0.94. The stock's 50 day simple moving average is $156.48 and its two-hundred day simple moving average is $164.88. 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 announced its quarterly 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 26.86% and a return on equity of 53.82%. The company had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter in the previous year, the business posted $1.38 earnings per share. Zoetis's quarterly revenue was up 1.4% on a year-over-year basis. Research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders 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 dividend yield of 1.23%. Zoetis's dividend payout ratio (DPR) is currently 35.91%.

Analysts Set New Price Targets

ZTS has been the subject of several recent analyst reports. Morgan Stanley cut their target price on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. UBS Group cut their target price on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus cut their target price on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Piper Sandler lifted their price target on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, Wall Street Zen raised shares of Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $212.75.

Insider Buying and Selling

In other news, EVP Roxanne Lagano sold 326 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.00, for a total transaction of $55,420.00. Following the sale, the executive vice president now owns 15,781 shares of the company's stock, valued at $2,682,770. This trade represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Willie M. Reed sold 1,210 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the transaction, the director now owns 11,245 shares in the company, 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. 0.18% of the stock is owned by corporate insiders.

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.