Sumitomo Mitsui Trust Holdings Inc. Sells 23,350 Shares of Zoetis Inc. (NYSE:ZTS)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 1.9% during the fourth quarter, Holdings Channel reports. The fund owned 1,198,061 shares of the company’s stock after selling 23,350 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Zoetis were worth $236,461,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ZTS. Norges Bank bought a new stake in Zoetis during the 4th quarter worth approximately $745,861,000. Morgan Stanley boosted its position in Zoetis by 34.6% in the 4th quarter. Morgan Stanley now owns 10,872,704 shares of the company’s stock valued at $1,593,395,000 after buying an additional 2,796,694 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in Zoetis by 124,281.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,332,160 shares of the company’s stock valued at $341,778,000 after buying an additional 2,330,285 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Zoetis by 171.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,326,448 shares of the company’s stock valued at $627,335,000 after buying an additional 2,102,306 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Zoetis in the 3rd quarter valued at $176,219,000. 92.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $173.33, for a total value of $159,983.59. Following the sale, the executive vice president now owns 15,723 shares in the company, valued at approximately $2,725,267.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 2,209 shares of company stock worth $408,453 in the last quarter. Insiders own 0.15% of the company’s stock.

Zoetis Stock Performance

NYSE ZTS opened at $149.98 on Monday. The firm’s fifty day moving average price is $179.92 and its two-hundred day moving average price is $180.91. The stock has a market cap of $68.59 billion, a PE ratio of 29.58, a PEG ratio of 2.29 and a beta of 0.85. Zoetis Inc. has a fifty-two week low of $148.48 and a fifty-two week high of $201.92. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.08). Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the company posted $1.15 EPS. Zoetis’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts expect that Zoetis Inc. will post 5.8 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be issued a $0.432 dividend. The ex-dividend date is Thursday, April 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.15%. Zoetis’s dividend payout ratio is presently 34.12%.

Wall Street Analysts Forecast Growth

ZTS has been the topic of a number of recent research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $230.00 price objective on shares of Zoetis in a research report on Tuesday, December 19th. Stifel Nicolaus cut their price target on Zoetis from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Piper Sandler raised their price objective on Zoetis from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Barclays raised their price objective on Zoetis from $255.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Finally, The Goldman Sachs Group lifted their price target on Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $224.88.

Zoetis Company 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.