Nuveen Asset Management LLC Cuts Stake in Zoetis Inc. (NYSE:ZTS)

Nuveen Asset Management LLC decreased its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 15.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,941,018 shares of the company's stock after selling 736,612 shares during the period. Nuveen Asset Management LLC owned approximately 0.87% of Zoetis worth $642,110,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ZTS. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Zoetis by 482.8% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company's stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Rakuten Securities Inc. raised its holdings in Zoetis by 5,533.3% during the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock valued at $28,000 after buying an additional 166 shares during the last quarter. Navigoe LLC bought a new stake in Zoetis during the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp bought a new stake in Zoetis during the 4th quarter valued at $44,000. Finally, Asset Planning Inc bought a new stake in Zoetis during the 4th quarter valued at $58,000. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Trading Up 1.7%

NYSE ZTS traded up $2.68 during trading on Friday, hitting $163.03. The company had a trading volume of 2,391,686 shares, compared to its average volume of 2,513,944. 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 Inc. has a one year low of $139.70 and a one year high of $200.33. The company has a market cap of $72.58 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The company's fifty day moving average is $156.46 and its 200-day moving average is $165.43.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 EPS 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 business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the business earned $1.38 EPS. The company's revenue for the quarter was up 1.4% on a year-over-year basis. On average, sell-side analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Analysts Set New Price Targets

ZTS has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a report on Monday, April 14th. UBS Group lowered their price target on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Morgan Stanley lowered their price target on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Piper Sandler upped their price target on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday. Finally, StockNews.com upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $212.75.

Insider Buying and Selling

In related news, Director Willie M. Reed sold 1,210 shares of the stock in a transaction dated 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 transaction, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. This trade represents a 9.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the 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 completion of the transaction, the executive vice president now 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. 0.16% of the stock is owned by company insiders.

Zoetis 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.