Investment Management Corp of Ontario Decreases Position in Zoetis Inc. (NYSE:ZTS)

Investment Management Corp of Ontario decreased its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 30.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,091 shares of the company's stock after selling 12,498 shares during the period. Investment Management Corp of Ontario's holdings in Zoetis were worth $4,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ZTS. Vanguard Group Inc. raised its position in shares of Zoetis by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company's stock worth $6,739,905,000 after purchasing an additional 120,158 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Zoetis by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 10,617,897 shares of the company's stock valued at $1,726,075,000 after acquiring an additional 190,137 shares during the last quarter. Polen Capital Management LLC boosted its stake in shares of Zoetis by 17.5% in the fourth quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company's stock worth $1,219,237,000 after acquiring an additional 1,116,541 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Zoetis by 78.5% during the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock worth $1,133,755,000 after purchasing an additional 3,059,255 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Zoetis by 13.3% in the 4th quarter. Northern Trust Corp now owns 6,426,394 shares of the company's stock valued at $1,047,052,000 after purchasing an additional 755,893 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley reduced their target price 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. Piper Sandler raised their target price on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday. Barclays boosted their target price on Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Stifel Nicolaus dropped their price target on Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, UBS Group reduced their price objective on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Zoetis currently has an average rating of "Buy" and a consensus target price of $212.75.

Insider Activity at Zoetis

In other news, EVP Roxanne Lagano sold 326 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 15,781 shares in the company, valued at $2,682,770. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Willie M. Reed sold 1,210 shares of Zoetis 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 completion of the sale, the director now directly owns 11,245 shares of the company's stock, valued at $1,868,244.30. The trade was a 9.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Zoetis Trading Down 2.7%

Shares of NYSE ZTS traded down $4.27 during midday trading on Wednesday, reaching $156.14. 385,998 shares of the stock were exchanged, compared to its average volume of 2,493,795. The stock has a market capitalization of $69.51 billion, a P/E ratio of 28.55, a PEG ratio of 2.78 and a beta of 0.94. 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 company has a 50 day simple moving average of $157.03 and a 200 day simple moving average of $165.79. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last posted 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 return on equity of 53.82% and a net margin of 26.86%. The company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter last year, the firm earned $1.38 earnings per share. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

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.