State of Tennessee Department of Treasury Sells 7,420 Shares of Zoetis Inc. (NYSE:ZTS)

State of Tennessee Department of Treasury trimmed its position in Zoetis Inc. (NYSE:ZTS) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 167,240 shares of the company’s stock after selling 7,420 shares during the period. State of Tennessee Department of Treasury’s holdings in Zoetis were worth $27,248,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ZTS. Atlantic Edge Private Wealth Management LLC raised its position in Zoetis by 482.8% in the fourth 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 during the last quarter. Rakuten Securities Inc. increased its stake in shares of Zoetis by 5,533.3% in 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 period. Murphy & Mullick Capital Management Corp bought a new position in Zoetis in the 4th quarter valued at approximately $44,000. Asset Planning Inc bought a new position in Zoetis in the 4th quarter valued at approximately $58,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Zoetis during the 4th quarter worth approximately $59,000. 92.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $170.00, for a total value of $55,420.00. Following the completion of the sale, the executive vice president now owns 15,781 shares of the company’s stock, valued at approximately $2,682,770. This trade represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Willie M. Reed sold 1,210 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 in the company, 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. Over the last ninety days, insiders sold 1,862 shares of company stock valued at $312,254. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the subject of several analyst reports. Morgan Stanley dropped their price target on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. StockNews.com raised Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Piper Sandler upped their price target on Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Stifel Nicolaus decreased their price target on Zoetis from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Barclays lifted their price objective on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $214.40.

Zoetis Stock Down 1.2 %

Shares of Zoetis stock opened at $146.85 on Tuesday. The stock’s 50-day moving average is $159.49 and its 200 day moving average is $169.35. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The firm has a market cap of $65.52 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 2.78 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. Equities research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s payout ratio is 36.56%.

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.