Zoetis Inc. (NYSE:ZTS) Shares Sold by Veritas Asset Management LLP

Veritas Asset Management LLP cut its position in shares of Zoetis Inc. (NYSE:ZTS) by 14.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,972,680 shares of the company’s stock after selling 324,842 shares during the quarter. Zoetis makes up approximately 3.0% of Veritas Asset Management LLP’s portfolio, making the stock its 15th biggest position. Veritas Asset Management LLP’s holdings in Zoetis were worth $321,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Zoetis by 482.8% in 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. Darwin Wealth Management LLC purchased a new stake in shares of Zoetis in the 3rd quarter valued at approximately $31,000. First Personal Financial Services purchased a new stake in shares of Zoetis in the 3rd quarter valued at approximately $33,000. Capital Performance Advisors LLP purchased a new stake in shares of Zoetis in the 3rd quarter valued at approximately $33,000. Finally, Dunhill Financial LLC raised its stake in shares of Zoetis by 80.6% in the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after acquiring an additional 75 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 326 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total value of $55,804.68. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ZTS. Stifel Nicolaus reduced their price target on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. UBS Group started coverage on shares of Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective for the company. Morgan Stanley dropped their price objective on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Piper Sandler dropped their price objective on shares of Zoetis from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Barclays boosted their price target on shares of Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $215.40.

Zoetis Stock Up 3.1 %

ZTS stock opened at $165.51 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. Zoetis Inc. has a one year low of $144.80 and a one year high of $200.53. The company has a fifty day moving average of $166.30 and a 200-day moving average of $177.78. The stock has a market capitalization of $74.12 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 2.78 and a beta of 0.90.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating 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 firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.30 billion. As a group, analysts expect that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 annualized dividend and a yield of 1.21%. Zoetis’s dividend payout ratio (DPR) is currently 36.56%.

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.