Wells Fargo & Company MN Sells 340,735 Shares of Zoetis Inc. (NYSE:ZTS)

Wells Fargo & Company MN trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,932,698 shares of the company's stock after selling 340,735 shares during the quarter. Wells Fargo & Company MN owned about 1.31% of Zoetis worth $966,615,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ZTS. Howard Capital Management Group LLC grew its position in Zoetis by 0.8% during the third quarter. Howard Capital Management Group LLC now owns 104,866 shares of the company's stock worth $20,489,000 after buying an additional 883 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Zoetis by 17.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company's stock valued at $464,497,000 after acquiring an additional 351,372 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of Zoetis by 1.3% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,271 shares of the company's stock worth $1,421,000 after purchasing an additional 92 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in Zoetis in the 3rd quarter valued at about $211,000. Finally, Royal London Asset Management Ltd. raised its position in Zoetis by 4.8% during the third quarter. Royal London Asset Management Ltd. now owns 212,693 shares of the company's stock valued at $41,556,000 after purchasing an additional 9,746 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stifel Nicolaus cut their price objective on Zoetis from $210.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Piper Sandler boosted their price target on Zoetis from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Barclays raised their price objective on shares of Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Morgan Stanley decreased their price target on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Finally, StockNews.com raised shares of Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Zoetis currently has an average rating of "Buy" and a consensus price target of $215.90.

Zoetis Trading Down 0.8 %

Shares of Zoetis stock traded down $1.15 on Wednesday, reaching $143.27. 1,455,221 shares of the company's stock were exchanged, compared to its average volume of 3,007,047. The company has a market capitalization of $64.15 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.92. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. The firm's 50-day moving average is $164.18 and its two-hundred day moving average is $172.41.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.30 billion. Sell-side analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.40%. Zoetis's dividend payout ratio is 36.56%.

Insider Transactions at Zoetis

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of the firm's stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $170.00, for a total transaction of $55,420.00. Following the sale, the executive vice president now directly owns 15,781 shares of the company's stock, valued at approximately $2,682,770. The trade was a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,862 shares of company stock valued at $312,254 over the last ninety days. 0.16% of the stock is owned by company insiders.

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.