MainStreet Investment Advisors LLC cut its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 8.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,300 shares of the company’s stock after selling 3,304 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Zoetis were worth $6,007,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Zoetis by 3.3% during the 4th quarter. BlackRock Inc. now owns 40,720,915 shares of the company’s stock worth $6,739,311,000 after purchasing an additional 1,291,599 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Zoetis by 9.1% during the 4th quarter. Alliancebernstein L.P. now owns 16,645,263 shares of the company’s stock worth $2,754,791,000 after purchasing an additional 1,386,823 shares during the period. FMR LLC grew its holdings in shares of Zoetis by 27.4% during the 4th quarter. FMR LLC now owns 14,036,704 shares of the company’s stock worth $2,323,075,000 after purchasing an additional 3,017,046 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Zoetis by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,289,978 shares of the company’s stock worth $1,040,174,000 after purchasing an additional 18,576 shares during the period. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of Zoetis by 0.7% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 4,849,392 shares of the company’s stock worth $801,944,000 after purchasing an additional 33,871 shares during the period. Institutional investors and hedge funds own 92.50% of the company’s stock.
Shares of ZTS traded down $0.38 during midday trading on Tuesday, hitting $159.78. The company had a trading volume of 15,009 shares, compared to its average volume of 1,908,971. The company’s 50-day simple moving average is $162.26 and its 200-day simple moving average is $161.71. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.60 and a current ratio of 3.47. The firm has a market capitalization of $75.92 billion, a P/E ratio of 47.53, a P/E/G ratio of 4.35 and a beta of 0.71. Zoetis Inc. has a 1 year low of $90.14 and a 1 year high of $176.64.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Wednesday, April 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Tuesday, April 20th. Zoetis’s payout ratio is presently 27.47%.
In other news, EVP Heidi C. Chen sold 1,180 shares of the firm’s stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $161.64, for a total transaction of $190,735.20. Following the sale, the executive vice president now owns 17,515 shares of the company’s stock, valued at approximately $2,831,124.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kristin C. Peck sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, November 25th. The stock was sold at an average price of $161.51, for a total value of $1,695,855.00. Following the sale, the chief executive officer now directly owns 38,374 shares in the company, valued at approximately $6,197,784.74. The disclosure for this sale can be found here. Insiders have sold a total of 13,734 shares of company stock worth $2,217,592 in the last three months. Corporate insiders own 0.17% of the company’s stock.
ZTS has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on Zoetis from $167.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, November 13th. Barclays raised their target price on Zoetis from $175.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, November 6th. Truist raised their target price on Zoetis from $160.00 to $170.00 in a report on Thursday, November 12th. Finally, Credit Suisse Group raised their target price on Zoetis from $197.00 to $203.00 in a report on Wednesday, February 17th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $167.25.
Zoetis Company Profile
Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.
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