Cerity Partners LLC Sells 17,535 Shares of Zoetis Inc. (NYSE:ZTS)

Cerity Partners LLC decreased its stake in shares of Zoetis Inc. (NYSE:ZTS) by 11.5% during the fourth quarter, Holdings Channel reports. The firm owned 135,287 shares of the company’s stock after selling 17,535 shares during the quarter. Cerity Partners LLC’s holdings in Zoetis were worth $24,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZTS. Peapack Gladstone Financial Corp boosted its stake in shares of Zoetis by 2.2% in the 4th quarter. Peapack Gladstone Financial Corp now owns 78,687 shares of the company’s stock worth $12,821,000 after buying an additional 1,683 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co boosted its position in Zoetis by 31.7% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 83,000 shares of the company’s stock worth $13,523,000 after purchasing an additional 20,000 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Zoetis during the 4th quarter valued at about $1,559,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Zoetis during the 4th quarter valued at about $59,000. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of Zoetis in the 4th quarter worth approximately $56,032,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Down 3.4 %

ZTS stock opened at $144.09 on Wednesday. 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 Inc. has a 1-year low of $137.65 and a 1-year high of $200.33. The business has a 50 day simple moving average of $164.18 and a two-hundred day simple moving average of $172.41. The company has a market capitalization of $64.52 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.78 and a beta of 0.92.

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

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be given a dividend of $0.50 per share. The ex-dividend date is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.39%. Zoetis’s payout ratio is 36.56%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays boosted their target price on shares of Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Piper Sandler upped their price objective on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Morgan Stanley lowered their target price on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. StockNews.com raised Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Finally, Stifel Nicolaus cut their price objective on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Zoetis presently has an average rating of “Buy” and a consensus target price of $215.90.

Insider Transactions at Zoetis

In related news, Director Willie M. Reed sold 1,210 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the sale, the director now owns 11,245 shares in the company, valued at approximately $1,868,244.30. The trade was a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total transaction of $55,804.68. Following the sale, the executive vice president now directly owns 16,107 shares in the company, valued at approximately $2,757,196.26. The trade was a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,862 shares of company stock valued at $312,254. 0.16% of the stock is currently owned by insiders.

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.