Pitcairn Co. Sells 449 Shares of Zoetis Inc. (NYSE:ZTS)

Pitcairn Co. reduced its position in shares of Zoetis Inc. (NYSE:ZTSFree Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,318 shares of the company’s stock after selling 449 shares during the period. Pitcairn Co.’s holdings in Zoetis were worth $6,379,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Zoetis by 2.5% in the 3rd quarter. Wellington Management Group LLP now owns 12,344,692 shares of the company’s stock worth $2,147,730,000 after buying an additional 297,044 shares during the last quarter. Capital World Investors increased its position in shares of Zoetis by 0.6% during the 4th quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock valued at $1,788,988,000 after purchasing an additional 57,798 shares during the last quarter. Northern Trust Corp raised its stake in shares of Zoetis by 3.3% during the 3rd quarter. Northern Trust Corp now owns 6,143,258 shares of the company’s stock worth $1,068,804,000 after purchasing an additional 196,771 shares during the period. Norges Bank purchased a new position in shares of Zoetis in the 4th quarter worth about $980,646,000. Finally, Royal Bank of Canada grew its position in Zoetis by 3.1% during the third quarter. Royal Bank of Canada now owns 3,026,518 shares of the company’s stock valued at $526,553,000 after buying an additional 91,713 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the sale, the executive vice president now owns 14,800 shares of the company’s stock, valued at approximately $2,237,316. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Zoetis Price Performance

ZTS traded down $3.33 during trading on Wednesday, reaching $175.21. 1,018,501 shares of the company were exchanged, compared to its average volume of 2,972,729. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company’s 50-day moving average is $165.28 and its two-hundred day moving average is $179.64. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. The company has a market cap of $79.95 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 2.78 and a beta of 0.88.

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

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be issued a $0.432 dividend. The ex-dividend date is Thursday, July 18th. This represents a $1.73 annualized dividend and a dividend yield of 0.99%. Zoetis’s payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ZTS shares. Stifel Nicolaus dropped their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Barclays dropped their price objective on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. StockNews.com downgraded Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group dropped their price target on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Finally, HSBC decreased their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $211.75.

Read Our Latest Stock Report on Zoetis

About Zoetis

(Free Report)

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.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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