Securian Asset Management Inc. Lowers Stake in Zoetis Inc. (NYSE:ZTS)

Securian Asset Management Inc. lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,236 shares of the company’s stock after selling 804 shares during the quarter. Securian Asset Management Inc.’s holdings in Zoetis were worth $4,548,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Focus Financial Network Inc. ADV purchased a new position in Zoetis in the 4th quarter worth $2,159,000. Price T Rowe Associates Inc. MD raised its position in Zoetis by 31.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares during the period. Ninety One UK Ltd raised its position in Zoetis by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock worth $21,374,000 after purchasing an additional 12,537 shares during the period. Axiom Investors LLC DE raised its position in Zoetis by 36.3% in the 4th quarter. Axiom Investors LLC DE now owns 594,474 shares of the company’s stock worth $117,331,000 after purchasing an additional 158,459 shares during the period. Finally, Global Assets Advisory LLC purchased a new position in Zoetis in the 1st quarter worth $8,831,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 1.0 %

NYSE ZTS traded down $1.93 during trading hours on Monday, reaching $183.32. 686,302 shares of the company’s stock traded hands, compared to its average volume of 2,777,081. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The firm has a market cap of $83.05 billion, a PE ratio of 35.69, a PEG ratio of 2.84 and a beta of 0.86. The firm has a 50-day simple moving average of $176.79 and a 200 day simple moving average of $175.31. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.41 earnings per share. Sell-side analysts anticipate that Zoetis Inc. will post 5.84 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be issued a dividend of $0.432 per share. The ex-dividend date is Thursday, July 18th. This represents a $1.73 annualized dividend and a dividend yield of 0.94%. Zoetis’s payout ratio is 33.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. The Goldman Sachs Group cut their price target on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a report on Monday, May 6th. BTIG Research began coverage on shares of Zoetis in a report on Thursday, July 25th. They issued a “buy” rating and a $220.00 price target on the stock. HSBC cut their target price on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Barclays cut their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Zoetis has a consensus rating of “Buy” and an average target price of $214.89.

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.