Sawgrass Asset Management LLC Has $10.86 Million Holdings in Zoetis Inc. (NYSE:ZTS)

Sawgrass Asset Management LLC cut its stake in Zoetis Inc. (NYSE:ZTS) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,638 shares of the company’s stock after selling 4,104 shares during the period. Sawgrass Asset Management LLC’s holdings in Zoetis were worth $10,857,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fiera Capital Corp lifted its position in Zoetis by 9.4% during the 4th quarter. Fiera Capital Corp now owns 644,414 shares of the company’s stock worth $104,994,000 after buying an additional 55,455 shares in the last quarter. Van ECK Associates Corp lifted its position in Zoetis by 2.2% during the 4th quarter. Van ECK Associates Corp now owns 577,700 shares of the company’s stock worth $94,124,000 after buying an additional 12,478 shares in the last quarter. Retirement Guys Formula LLC lifted its position in Zoetis by 4.9% during the 4th quarter. Retirement Guys Formula LLC now owns 4,238 shares of the company’s stock worth $691,000 after buying an additional 197 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Zoetis by 74.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 97,437 shares of the company’s stock worth $15,844,000 after buying an additional 41,741 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its position in Zoetis by 53.5% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 3,564 shares of the company’s stock worth $581,000 after buying an additional 1,242 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Leerink Partners began coverage on shares of Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price target on the stock. Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley dropped their target price on shares of Zoetis from $248.00 to $243.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Stifel Nicolaus dropped their target price on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Piper Sandler dropped their target price on shares of Zoetis from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $214.00.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total value of $55,804.68. Following the transaction, the executive vice president now directly owns 16,107 shares of the company’s stock, valued at $2,757,196.26. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Zoetis Stock Performance

Shares of NYSE:ZTS opened at $173.99 on Thursday. The company’s 50 day moving average price is $169.11 and its two-hundred day moving average price is $179.11. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.53. The firm has a market cap of $78.50 billion, a PE ratio of 32.70, a PEG ratio of 2.77 and a beta of 0.90. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be given a dividend of $0.50 per share. The ex-dividend date is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. Zoetis’s payout ratio is presently 37.59%.

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.