Zoetis Inc. (NYSE:ZTS) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd reduced its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 35.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,097,830 shares of the company's stock after selling 591,061 shares during the quarter. Ninety One UK Ltd owned 0.25% of Zoetis worth $180,758,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ZTS. Rakuten Securities Inc. raised its position in Zoetis by 5,533.3% in the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock worth $28,000 after acquiring an additional 166 shares during the period. Navigoe LLC bought a new stake in Zoetis in the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new stake in Zoetis in the fourth quarter worth about $44,000. Sound Income Strategies LLC raised its position in Zoetis by 141.4% in the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after acquiring an additional 164 shares during the period. Finally, Bfsg LLC raised its position in shares of Zoetis by 614.6% in the first quarter. Bfsg LLC now owns 293 shares of the company's stock valued at $48,000 after purchasing an additional 252 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 652 shares of the business's stock in a transaction 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 owned 15,129 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

Zoetis Trading Up 0.3%

Shares of ZTS traded up $0.50 during midday trading on Wednesday, hitting $158.30. The stock had a trading volume of 3,196,368 shares, compared to its average volume of 2,584,167. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The firm has a market cap of $70.48 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 2.62 and a beta of 0.91. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.74 and a quick ratio of 1.04. The stock's 50 day moving average is $161.27 and its 200 day moving average is $161.99.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) 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 analysts' expectations of $2.20 billion. During the same period in the prior year, the business earned $1.38 EPS. The firm's quarterly revenue was up 1.4% on a year-over-year basis. As a group, analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's payout ratio is presently 35.91%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. UBS Group decreased their target price 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. Finally, Stifel Nicolaus lowered 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 report on Wednesday, June 18th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zoetis currently has a consensus rating of "Buy" and an average price target 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.