Zoetis Inc. (NYSE:ZTS) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC reduced its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,506 shares of the company's stock after selling 4,132 shares during the period. Zoetis makes up approximately 1.3% of Sawgrass Asset Management LLC's investment portfolio, making the stock its 25th biggest holding. Sawgrass Asset Management LLC's holdings in Zoetis were worth $10,292,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Rakuten Securities Inc. raised its stake in shares of 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 purchasing an additional 166 shares during the last quarter. Navigoe LLC purchased a new position in Zoetis during the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Zoetis during the 4th quarter valued at approximately $44,000. Sound Income Strategies LLC boosted its holdings in shares of Zoetis by 141.4% in the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after acquiring an additional 164 shares during the last quarter. Finally, Bfsg LLC boosted its holdings in shares of Zoetis by 614.6% in the 1st quarter. Bfsg LLC now owns 293 shares of the company's stock valued at $48,000 after acquiring an additional 252 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Price Performance

NYSE:ZTS opened at $157.26 on Monday. The stock has a 50 day moving average of $159.58 and a two-hundred day moving average of $163.23. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. The firm has a market cap of $70.01 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 2.61 and a beta of 0.94. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12.

Zoetis (NYSE:ZTS - Get Free Report) last announced 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. The company had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The firm's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.38 EPS. On average, analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is 35.91%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group lowered their price target 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. Stifel Nicolaus downgraded Zoetis from a "buy" rating to a "hold" rating and lowered their target price for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Wall Street Zen upgraded Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Finally, Piper Sandler upped their price objective on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $212.13.

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 completion of the sale, the executive vice president now directly owns 15,129 shares in the company, valued at $2,571,930. This represents a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company's stock.

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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