Ninety One North America Inc. Sells 452 Shares of Zoetis Inc. (NYSE:ZTS)

Ninety One North America Inc. lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 13.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,830 shares of the company’s stock after selling 452 shares during the period. Ninety One North America Inc.’s holdings in Zoetis were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. raised its position in shares of Zoetis by 5,533.3% during the fourth 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 purchased a new position in shares of Zoetis in the fourth quarter valued at $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Zoetis in the fourth quarter valued at $44,000. Sound Income Strategies LLC grew its holdings in shares of Zoetis by 141.4% in the first quarter. Sound Income Strategies LLC now owns 280 shares of the company’s stock valued at $46,000 after purchasing an additional 164 shares in the last quarter. Finally, Bfsg LLC grew its holdings in shares of Zoetis by 614.6% in the first quarter. Bfsg LLC now owns 293 shares of the company’s stock valued at $48,000 after purchasing an additional 252 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ZTS shares. Stifel Nicolaus lowered shares of Zoetis from a “buy” rating to a “hold” rating and cut their target price for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. UBS Group cut their target price 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. Finally, Piper Sandler raised their target price on shares of Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, May 12th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $212.13.

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 Down 1.4%

NYSE ZTS opened at $156.98 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12. The company has a fifty day moving average of $161.23 and a two-hundred day moving average of $162.02. The firm has a market capitalization of $69.89 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.64 and a beta of 0.91. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33.

Zoetis (NYSE:ZTS) last posted 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. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. Zoetis’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.38 earnings per share. On average, analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current 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 1.27%. The ex-dividend date is Friday, July 18th. Zoetis’s dividend 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.