TFC Financial Management Inc. Decreases Stock Position in Zoetis Inc. (NYSE:ZTS)

TFC Financial Management Inc. cut its stake in Zoetis Inc. (NYSE:ZTS) by 37.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,219 shares of the company’s stock after selling 741 shares during the quarter. TFC Financial Management Inc.’s holdings in Zoetis were worth $199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fiera Capital Corp boosted its holdings in Zoetis by 9.4% in the fourth quarter. Fiera Capital Corp now owns 644,414 shares of the company’s stock valued at $104,994,000 after purchasing an additional 55,455 shares during the period. Van ECK Associates Corp boosted its holdings in Zoetis by 2.2% in the fourth quarter. Van ECK Associates Corp now owns 577,700 shares of the company’s stock valued at $94,124,000 after purchasing an additional 12,478 shares during the period. Retirement Guys Formula LLC boosted its holdings in Zoetis by 4.9% in the fourth quarter. Retirement Guys Formula LLC now owns 4,238 shares of the company’s stock valued at $691,000 after purchasing an additional 197 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Zoetis by 74.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 97,437 shares of the company’s stock valued at $15,844,000 after purchasing an additional 41,741 shares during the period. Finally, Avidian Wealth Enterprises LLC boosted its holdings in Zoetis by 53.5% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 3,564 shares of the company’s stock valued at $581,000 after purchasing an additional 1,242 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ZTS. Morgan Stanley decreased their price target on Zoetis from $248.00 to $243.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. UBS Group began coverage on Zoetis in a report on Monday, December 9th. They set a “neutral” rating and a $196.00 price target for the company. Piper Sandler cut their target price on Zoetis from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday. Stifel Nicolaus cut their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Leerink Partners began coverage on Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 target price on the stock. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $214.00.

Zoetis Stock Performance

Shares of ZTS stock opened at $173.99 on Thursday. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The stock’s 50-day moving average price is $169.11 and its 200 day moving average price is $179.11. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $200.53. The stock has a market capitalization of $78.50 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 2.77 and a beta of 0.90.

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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.15%. The ex-dividend date is Monday, April 21st. Zoetis’s payout ratio is 37.59%.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total transaction of $55,804.68. Following the transaction, the executive vice president now owns 16,107 shares in the company, valued at approximately $2,757,196.26. The trade was a 1.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

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.