Zoetis Inc. (NYSE:ZTS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in Zoetis Inc. (NYSE:ZTS) by 10.8% in the first quarter, Holdings Channel.com reports. The fund owned 437,164 shares of the company’s stock after selling 53,026 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Zoetis were worth $73,973,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC raised its stake in shares of Zoetis by 222.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after buying an additional 89 shares during the last quarter. Webster Bank N. A. increased its position in Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares in the last quarter. Independence Bank of Kentucky increased its position in Zoetis by 371.4% during the 4th quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock worth $33,000 after purchasing an additional 130 shares in the last quarter. Private Wealth Management Group LLC purchased a new stake in Zoetis during the 4th quarter worth about $33,000. Finally, Ramirez Asset Management Inc. purchased a new stake in Zoetis during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total transaction of $139,529.91. Following the sale, the executive vice president now directly owns 14,800 shares of the company’s stock, valued at approximately $2,237,316. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Zoetis Stock Up 1.7 %

Zoetis stock traded up $2.99 during midday trading on Tuesday, hitting $175.57. 248,748 shares of the company were exchanged, compared to its average volume of 2,937,487. The company’s fifty day moving average price is $168.69 and its 200-day moving average price is $178.59. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a market cap of $80.11 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 2.69 and a beta of 0.86. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94.

Zoetis (NYSE:ZTS) last announced its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the company posted $1.31 EPS. Zoetis’s quarterly revenue was up 9.5% on a year-over-year basis. On average, research analysts predict that Zoetis Inc. will post 5.76 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be given a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio is currently 33.33%.

Analyst Ratings Changes

Several analysts have commented on ZTS shares. Piper Sandler restated an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. HSBC lowered their price target on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Barclays decreased their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Stifel Nicolaus decreased their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Finally, The Goldman Sachs Group decreased their target price on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a report on Monday, May 6th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Zoetis has an average rating of “Buy” and an average price target of $211.75.

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.