Prudential Financial Inc. Decreases Holdings in Zoetis Inc. (NYSE:ZTS)

Prudential Financial Inc. reduced its stake in Zoetis Inc. (NYSE:ZTS) by 18.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,335 shares of the company’s stock after selling 54,548 shares during the period. Prudential Financial Inc. owned approximately 0.05% of Zoetis worth $39,484,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ZTS. Dunhill Financial LLC raised its holdings in shares of Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after buying an additional 75 shares during the period. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Zoetis by 482.8% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Rakuten Securities Inc. lifted its position in shares of Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock worth $28,000 after purchasing an additional 166 shares in the last quarter. Quarry LP boosted its stake in shares of Zoetis by 45.9% in the third quarter. Quarry LP now owns 305 shares of the company’s stock valued at $60,000 after purchasing an additional 96 shares during the period. Finally, Asset Planning Inc acquired a new stake in Zoetis during the 4th quarter valued at $58,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Willie M. Reed sold 1,210 shares of the firm’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 sale, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. This trade represents a 9.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the business’s stock in a transaction on 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 $2,757,196.26. This trade represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,862 shares of company stock valued at $312,254. 0.16% of the stock is currently owned by company insiders.

Zoetis Price Performance

Shares of NYSE:ZTS opened at $161.29 on Wednesday. The company has a market cap of $72.22 billion, a PE ratio of 29.49, a P/E/G ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $200.33. The firm has a 50-day simple moving average of $166.64 and a 200 day simple moving average of $175.02. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. On average, sell-side analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s payout ratio is 36.56%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ZTS shares. Leerink Partners began coverage on Zoetis in a research note on Monday, December 2nd. They set an “outperform” rating and a $215.00 target price for the company. Morgan Stanley lowered their price objective on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Barclays upped their target price on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. StockNews.com upgraded shares of Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Finally, Piper Sandler increased their price objective on shares of Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. One equities research 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.