Norden Group LLC Trims Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Norden Group LLC trimmed its position in Zoetis Inc. (NYSE:ZTS) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,469 shares of the company’s stock after selling 792 shares during the period. Norden Group LLC’s holdings in Zoetis were worth $1,277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZTS. Vaughan Nelson Investment Management L.P. purchased a new stake in Zoetis in the third quarter worth $176,219,000. Alphinity Investment Management Pty Ltd grew its stake in Zoetis by 214.7% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 824,148 shares of the company’s stock worth $162,662,000 after purchasing an additional 562,259 shares during the period. International Assets Investment Management LLC grew its stake in Zoetis by 27,671.0% in the fourth quarter. International Assets Investment Management LLC now owns 479,328 shares of the company’s stock worth $94,605,000 after purchasing an additional 477,602 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Zoetis by 34.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,562,044 shares of the company’s stock worth $271,764,000 after acquiring an additional 403,164 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its holdings in Zoetis by 53.9% in the third quarter. Natixis Advisors L.P. now owns 941,219 shares of the company’s stock worth $163,753,000 after acquiring an additional 329,543 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total transaction of $139,529.91. Following the completion of the transaction, the executive vice president now owns 14,800 shares in the company, valued at approximately $2,237,316. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 2,209 shares of company stock worth $371,293. 0.16% of the stock is owned by corporate insiders.

Zoetis Stock Performance

ZTS stock traded up $0.48 during trading on Tuesday, reaching $160.18. The stock had a trading volume of 1,923,902 shares, compared to its average volume of 3,125,759. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The stock’s 50 day moving average is $171.21 and its two-hundred day moving average is $179.23. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32. The firm has a market cap of $73.26 billion, a PE ratio of 31.60, a PEG ratio of 2.42 and a beta of 0.85.

Zoetis (NYSE:ZTS) last posted its earnings results 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 firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.19 billion. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 EPS. As a group, equities analysts anticipate that Zoetis Inc. will post 5.79 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s payout ratio is 34.12%.

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.