Klingman & Associates LLC Trims Position in Zoetis Inc. (NYSE:ZTS)

Klingman & Associates LLC cut its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 20.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,363 shares of the company’s stock after selling 341 shares during the quarter. Klingman & Associates LLC’s holdings in Zoetis were worth $222,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp increased its stake in shares of Zoetis by 0.5% during the third quarter. State Street Corp now owns 19,779,344 shares of the company’s stock valued at $3,864,488,000 after buying an additional 95,856 shares during the period. Geode Capital Management LLC grew its stake in Zoetis by 1.8% in the third quarter. Geode Capital Management LLC now owns 10,427,760 shares of the company’s stock worth $2,030,813,000 after purchasing an additional 185,364 shares during the period. Mizuho Securities USA LLC grew its stake in Zoetis by 13,726.9% in the third quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock worth $950,524,000 after purchasing an additional 4,829,815 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Zoetis by 5.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,896,106 shares of the company’s stock worth $761,221,000 after purchasing an additional 194,542 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Zoetis by 10.6% in the third quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company’s stock worth $569,834,000 after purchasing an additional 279,092 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the transaction, the executive vice president now owns 16,107 shares of the company’s stock, valued at approximately $2,757,196.26. This represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Zoetis Trading Up 0.3 %

Shares of NYSE:ZTS opened at $156.92 on Thursday. The company has a market cap of $70.27 billion, a P/E ratio of 28.69, a PEG ratio of 2.71 and a beta of 0.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $200.53. The stock’s fifty day moving average price is $167.29 and its 200-day moving average price is $178.29.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. Sell-side analysts expect that Zoetis Inc. will post 6.06 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders 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 dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s payout ratio is currently 36.56%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stifel Nicolaus reduced their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley reduced their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler reduced their price target on Zoetis from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, Leerink Partners initiated coverage on Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price on the stock. 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, the stock presently has a consensus rating of “Buy” and a consensus target price of $214.90.

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.