TD Private Client Wealth LLC Reduces Stock Position in Zoetis Inc. (NYSE:ZTS)

TD Private Client Wealth LLC decreased its holdings in Zoetis Inc. (NYSE:ZTS) by 29.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,217 shares of the company’s stock after selling 3,423 shares during the period. TD Private Client Wealth LLC’s holdings in Zoetis were worth $1,339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AllSquare Wealth Management LLC grew its holdings in Zoetis by 20.0% in the 4th quarter. AllSquare Wealth Management LLC now owns 948 shares of the company’s stock valued at $154,000 after buying an additional 158 shares during the period. Holderness Investments Co. grew its holdings in Zoetis by 25.6% in the 4th quarter. Holderness Investments Co. now owns 4,663 shares of the company’s stock valued at $760,000 after buying an additional 950 shares during the period. HUB Investment Partners LLC grew its holdings in Zoetis by 4.7% in the 4th quarter. HUB Investment Partners LLC now owns 1,373 shares of the company’s stock valued at $224,000 after buying an additional 62 shares during the period. Whittier Trust Co. grew its holdings in Zoetis by 9.5% in the 4th quarter. Whittier Trust Co. now owns 12,167 shares of the company’s stock valued at $1,982,000 after buying an additional 1,055 shares during the period. Finally, Blueshift Asset Management LLC purchased a new stake in Zoetis in the 4th quarter valued at about $280,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Insider Buying and Selling at Zoetis

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the transaction, the director now directly owns 11,245 shares of the company’s stock, valued at $1,868,244.30. This represents a 9.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.00, for a total value of $55,420.00. Following the completion of the transaction, the executive vice president now directly owns 15,781 shares in the company, valued at approximately $2,682,770. The trade was a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,862 shares of company stock valued at $312,254 in the last three months. Corporate insiders own 0.16% of the company’s stock.

Zoetis Stock Performance

Zoetis stock opened at $162.86 on Friday. The stock’s 50 day moving average price is $166.76 and its 200 day moving average price is $175.47. The firm has a market capitalization of $72.93 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. 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 $200.33.

Zoetis (NYSE:ZTS) last announced its 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. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, sell-side analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal 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 given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Monday, April 21st. Zoetis’s payout ratio is 36.56%.

Analyst Upgrades and Downgrades

Several research firms have commented on ZTS. Barclays lifted their price target on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Piper Sandler lifted their price objective on Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. StockNews.com raised Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Leerink Partners started coverage on Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, 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.