Envestnet Portfolio Solutions Inc. Has $6.77 Million Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Envestnet Portfolio Solutions Inc. lessened its stake in Zoetis Inc. (NYSE:ZTS) by 31.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,111 shares of the company’s stock after selling 18,594 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Zoetis were worth $6,769,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Zoetis during the 4th quarter worth $824,321,000. Wellington Management Group LLP increased its stake in shares of Zoetis by 78.5% during the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock worth $1,133,755,000 after purchasing an additional 3,059,255 shares during the last quarter. Sarasin & Partners LLP bought a new stake in shares of Zoetis during the 1st quarter worth $339,111,000. GAMMA Investing LLC boosted its holdings in shares of Zoetis by 14,731.3% during the 1st quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company’s stock worth $289,666,000 after buying an additional 1,747,423 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Zoetis during the 4th quarter worth $196,651,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the subject of several recent analyst reports. Wall Street Zen raised shares of Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Piper Sandler increased their price target on shares of Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, May 12th. UBS Group reduced their price target 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, Stifel Nicolaus downgraded shares of Zoetis from a “buy” rating to a “hold” rating and reduced their price target for the company from $165.00 to $160.00 in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $212.13.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the company’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 sale, the executive vice president now directly owns 15,129 shares of the company’s stock, valued at approximately $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Zoetis Stock Performance

Shares of ZTS stock opened at $157.26 on Friday. The company’s fifty day simple moving average is $159.58 and its 200-day simple moving average is $163.40. 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 firm has a market cap of $70.01 billion, a PE ratio of 28.23, a P/E/G ratio of 2.57 and a beta of 0.94. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.08. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm posted $1.38 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities research analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, July 18th. Zoetis’s dividend payout ratio (DPR) is currently 35.91%.

Zoetis 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.