Zoetis Inc. (NYSE:ZTS) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 5.1% in the 4th quarter, HoldingsChannel reports. The fund owned 115,177 shares of the company’s stock after selling 6,242 shares during the quarter. Amalgamated Bank’s holdings in Zoetis were worth $22,732,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Zoetis by 2.5% during the 3rd quarter. Wellington Management Group LLP now owns 12,344,692 shares of the company’s stock worth $2,147,730,000 after buying an additional 297,044 shares during the last quarter. Northern Trust Corp boosted its stake in Zoetis by 3.3% in the third quarter. Northern Trust Corp now owns 6,143,258 shares of the company’s stock valued at $1,068,804,000 after acquiring an additional 196,771 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Zoetis by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 3,998,989 shares of the company’s stock valued at $695,744,000 after acquiring an additional 150,918 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Zoetis by 3.1% during the third quarter. Royal Bank of Canada now owns 3,026,518 shares of the company’s stock worth $526,553,000 after purchasing an additional 91,713 shares during the last quarter. Finally, Blair William & Co. IL increased its position in shares of Zoetis by 1.4% during the third quarter. Blair William & Co. IL now owns 2,428,509 shares of the company’s stock worth $422,512,000 after purchasing an additional 32,918 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Barclays lowered their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. Stifel Nicolaus reduced their price target on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $216.13.

Zoetis Stock Performance

ZTS stock traded down $0.16 during trading on Friday, hitting $167.07. The company had a trading volume of 2,977,172 shares, compared to its average volume of 3,178,449. The firm has a market cap of $76.41 billion, a PE ratio of 32.95, a price-to-earnings-growth ratio of 2.48 and a beta of 0.86. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The firm has a 50-day moving average price of $169.48 and a 200-day moving average price of $178.89. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, analysts expect that Zoetis Inc. will post 5.78 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be given a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s payout ratio is 34.12%.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 363 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $197.74, for a total transaction of $71,779.62. Following the transaction, the executive vice president now owns 20,417 shares in the company, valued at approximately $4,037,257.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 2,209 shares of company stock worth $371,293. Company insiders own 0.16% of the company’s stock.

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.