Envestnet Asset Management Inc. Cuts Position in Zoetis Inc. (NYSE:ZTS)

Envestnet Asset Management Inc. reduced its stake in shares of Zoetis Inc. (NYSE:ZTS) by 5.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,131,571 shares of the company’s stock after selling 133,103 shares during the period. Envestnet Asset Management Inc.’s holdings in Zoetis were worth $347,297,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Zoetis by 482.8% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Rakuten Securities Inc. lifted its stake in Zoetis by 5,533.3% in the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock valued at $28,000 after buying an additional 166 shares in the last quarter. Dunhill Financial LLC increased its position in Zoetis by 80.6% during the third quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock worth $33,000 after buying an additional 75 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Zoetis in the fourth quarter valued at $44,000. Finally, Asset Planning Inc purchased a new position in shares of Zoetis during the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of ZTS opened at $151.76 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $165.71 and its two-hundred day moving average is $173.43. The firm has a market cap of $67.96 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 2.78 and a beta of 0.92. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $200.33.

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

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s dividend payout ratio is presently 36.56%.

Insider Transactions at Zoetis

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of Zoetis 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 completion of the transaction, the director now owns 11,245 shares of the company’s stock, valued at $1,868,244.30. The trade was a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Roxanne Lagano sold 326 shares of the business’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 owns 16,107 shares of the company’s stock, 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. In the last quarter, insiders sold 1,862 shares of company stock worth $312,254. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ZTS. UBS Group began coverage on Zoetis in a research note on Monday, December 9th. They set a “neutral” rating and a $196.00 price target on the stock. Stifel Nicolaus dropped their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley reduced their target price on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. StockNews.com raised Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Finally, Piper Sandler upped their target price on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and an average target price of $215.90.

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.