TIAA Trust National Association Lowers Stake in Zoetis Inc. (NYSE:ZTS)

Key Points

• TIAA Trust National Association reduced its holdings in Zoetis Inc. by 81.1% during the first quarter, bringing its ownership to 23,415 shares worth approximately $3.86 million.
• Wall Street analysts have varying opinions on Zoetis, with target prices ranging from $155.00 to $210.00, reflecting a consensus rating of "Moderate Buy."
• Zoetis recently declared a quarterly dividend of $0.50 per share, yielding 1.3%, with stakeholders to receive payments on September 3rd.

TIAA Trust National Association lowered its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 81.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 23,415 shares of the company's stock after selling 100,414 shares during the period. TIAA Trust National Association's holdings in Zoetis were worth $3,855,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Navigoe LLC acquired a new position in shares of Zoetis during the fourth quarter valued at about $30,000. Cornerstone Planning Group LLC boosted its holdings in Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Zoetis by 87.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock worth $42,000 after purchasing an additional 120 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Zoetis by 141.4% during the first 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. Finally, Bfsg LLC boosted its holdings in Zoetis by 614.6% during the first quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after purchasing an additional 252 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

Wall Street Analysts Forecast Growth

ZTS has been the topic of a number of research analyst reports. Piper Sandler boosted their target price 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. UBS Group dropped their target price on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Leerink Partners cut shares of 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 research note on Thursday, July 17th. Finally, Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and lowered their price target for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $204.63.

Insider Activity

In other 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 transaction of $110,840.00. Following the completion of the sale, the executive vice president directly owned 15,129 shares of the company's stock, valued at approximately $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company's stock.

Zoetis Stock Performance

Shares of ZTS traded up $4.93 on Monday, reaching $152.31. The company's stock had a trading volume of 6,269,265 shares, compared to its average volume of 3,305,504. 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 has a market capitalization of $67.81 billion, a P/E ratio of 27.34, a PEG ratio of 2.44 and a beta of 0.88. The stock's 50 day simple moving average is $158.29 and its two-hundred day simple moving average is $160.26. 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 posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The business 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. The business's revenue was up 1.4% compared to the same quarter last year. Research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's payout ratio is currently 35.91%.

Zoetis Company 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.