OLD National Bancorp IN Sells 649 Shares of Zoetis Inc. (NYSE:ZTS)

OLD National Bancorp IN cut its holdings in Zoetis Inc. (NYSE:ZTS) by 18.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,920 shares of the company’s stock after selling 649 shares during the period. OLD National Bancorp IN’s holdings in Zoetis were worth $576,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ZTS. Vaughan Nelson Investment Management L.P. bought a new position in shares of Zoetis in the third quarter valued at approximately $176,219,000. Alphinity Investment Management Pty Ltd grew its holdings in shares of Zoetis by 214.7% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 824,148 shares of the company’s stock valued at $162,662,000 after acquiring an additional 562,259 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Zoetis by 27,671.0% in the fourth quarter. International Assets Investment Management LLC now owns 479,328 shares of the company’s stock valued at $94,605,000 after purchasing an additional 477,602 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Zoetis by 34.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,562,044 shares of the company’s stock valued at $271,764,000 after purchasing an additional 403,164 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its stake in Zoetis by 53.9% in the third quarter. Natixis Advisors L.P. now owns 941,219 shares of the company’s stock valued at $163,753,000 after purchasing an additional 329,543 shares during the last quarter. 92.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $173.33, for a total value of $159,983.59. Following the completion of the transaction, the executive vice president now directly owns 15,723 shares in the company, valued at approximately $2,725,267.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 2,209 shares of company stock worth $371,293 in the last three months. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Stifel Nicolaus dropped their target price on Zoetis from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. StockNews.com downgraded Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group increased their target price on Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Barclays lowered their price objective on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $218.00.

Zoetis Stock Up 0.9 %

NYSE ZTS opened at $150.89 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00. The stock has a market capitalization of $69.01 billion, a PE ratio of 29.76, a PEG ratio of 2.29 and a beta of 0.85. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The business’s 50-day moving average is $173.11 and its 200 day moving average is $179.58.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.08). The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.19 billion. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 earnings per share. Sell-side analysts forecast that Zoetis Inc. will post 5.79 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be issued a $0.432 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.73 dividend on an annualized basis and a yield of 1.15%. Zoetis’s payout ratio is currently 34.12%.

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.