Zoetis Inc. (NYSE:ZTS) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 196,907 shares of the company's stock after selling 9,897 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Zoetis were worth $32,082,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Atlantic Edge Private Wealth Management LLC raised its stake in Zoetis by 482.8% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company's stock worth $28,000 after purchasing an additional 140 shares during the period. Rakuten Securities Inc. raised its stake in Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock worth $28,000 after purchasing an additional 166 shares during the period. Navigoe LLC purchased a new position in Zoetis during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp purchased a new position in Zoetis during the fourth quarter worth about $44,000. Finally, Asset Planning Inc purchased a new position in Zoetis during the fourth quarter worth about $58,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Up 0.6%

ZTS traded up $0.96 during trading hours on Thursday, hitting $166.36. 911,705 shares of the company's stock were exchanged, compared to its average volume of 2,519,232. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33. The firm has a 50 day moving average of $156.58 and a 200 day moving average of $164.69. The firm has a market cap of $74.07 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS - Get Free Report) last announced 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 26.86% and a return on equity of 53.82%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $1.38 EPS. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. Analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's payout ratio is currently 35.91%.

Insider Buying and Selling

In related news, Director Willie M. Reed sold 1,210 shares of the firm's 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 sale, the director now directly owns 11,245 shares of the company's stock, valued at approximately $1,868,244.30. This trade represents a 9.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roxanne Lagano sold 326 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $170.00, for a total transaction of $55,420.00. Following the completion of the sale, the executive vice president now directly owns 15,781 shares in the company, valued at $2,682,770. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on ZTS. Stifel Nicolaus reduced their target price on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays lifted their target price on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Wall Street Zen upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Piper Sandler upped their price objective 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, Morgan Stanley decreased their price objective on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. One 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's stock. Based on data from MarketBeat, Zoetis presently has an average rating of "Buy" and a consensus 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.