Flputnam Investment Management Co. Sells 1,675 Shares of Zoetis Inc. (NYSE:ZTS)

Flputnam Investment Management Co. cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 15.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,046 shares of the company’s stock after selling 1,675 shares during the period. Flputnam Investment Management Co.’s holdings in Zoetis were worth $1,785,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZTS. Blue Bell Private Wealth Management LLC increased its position in shares of Zoetis by 222.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock valued at $25,000 after buying an additional 89 shares during the period. Evermay Wealth Management LLC increased its position in shares of Zoetis by 439.3% in the first quarter. Evermay Wealth Management LLC now owns 151 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Zoetis by 430.8% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 138 shares of the company’s stock worth $26,000 after purchasing an additional 112 shares during the last quarter. Worth Asset Management LLC bought a new position in shares of Zoetis in the first quarter worth approximately $26,000. Finally, Moisand Fitzgerald Tamayo LLC increased its position in shares of Zoetis by 105.5% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 187 shares of the company’s stock worth $33,000 after purchasing an additional 96 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 363 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $197.74, for a total value of $71,779.62. Following the completion of the sale, the executive vice president now owns 20,417 shares of the company’s stock, valued at $4,037,257.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 2,209 shares of company stock valued at $408,453 over the last quarter. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ZTS shares. Barclays upped their price objective on shares of Zoetis from $255.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Stifel Nicolaus cut their target price on Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $230.00 target price on shares of Zoetis in a research note on Tuesday, December 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research note on Tuesday. Finally, StockNews.com lowered Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $221.75.

Zoetis Stock Performance

NYSE:ZTS opened at $153.02 on Wednesday. The firm has a market cap of $69.99 billion, a PE ratio of 30.18, a price-to-earnings-growth 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. The business has a 50 day moving average price of $178.25 and a 200-day moving average price of $180.59.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $1.15 EPS. Equities research analysts predict that Zoetis Inc. will post 5.8 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s payout ratio is 34.12%.

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.