Corient Private Wealth LLC Cuts Holdings in Zoetis Inc. (NYSE:ZTS)

Corient Private Wealth LLC reduced its position in Zoetis Inc. (NYSE:ZTS) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,649,981 shares of the company’s stock after selling 119,086 shares during the quarter. Corient Private Wealth LLC’s holdings in Zoetis were worth $268,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Callahan Advisors LLC grew its stake in shares of Zoetis by 90.4% in the fourth quarter. Callahan Advisors LLC now owns 13,105 shares of the company’s stock valued at $2,135,000 after buying an additional 6,221 shares in the last quarter. Pensionfund Sabic lifted its holdings in Zoetis by 55.6% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the company’s stock worth $1,825,000 after buying an additional 4,000 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Zoetis by 24.1% during the fourth quarter. CIBC Asset Management Inc now owns 237,369 shares of the company’s stock valued at $38,617,000 after acquiring an additional 46,050 shares in the last quarter. PFW Advisors LLC purchased a new stake in shares of Zoetis during the fourth quarter worth about $1,764,000. Finally, Alberta Investment Management Corp boosted its holdings in Zoetis by 2,050.0% in the fourth quarter. Alberta Investment Management Corp now owns 30,100 shares of the company’s stock valued at $4,904,000 after purchasing an additional 28,700 shares during the last quarter. 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 business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $170.00, for a total value of $55,420.00. Following the transaction, the executive vice president now directly owns 15,781 shares in the company, valued at $2,682,770. The trade was a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Willie M. Reed sold 1,210 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the transaction, the director now directly owns 11,245 shares of the company’s stock, valued at approximately $1,868,244.30. This represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,862 shares of company stock worth $312,254. 0.16% of the stock is owned by corporate insiders.

Zoetis Trading Up 0.8 %

Shares of NYSE:ZTS opened at $161.33 on Friday. The stock has a market capitalization of $72.24 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $200.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. The company has a 50 day moving average price of $166.82 and a 200 day moving average price of $176.15.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.30 billion. On average, research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal 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. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.24%. Zoetis’s dividend payout ratio is currently 36.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Stifel Nicolaus dropped their price objective on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Leerink Partners initiated coverage on shares of Zoetis in a report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective for the company. Piper Sandler upped 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. Barclays upped their target price on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Leerink Partnrs upgraded shares of Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus 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.