Envestnet Portfolio Solutions Inc. Trims Stock Position in Zoetis Inc. (NYSE:ZTS)

Envestnet Portfolio Solutions Inc. lowered its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 12.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,705 shares of the company’s stock after selling 8,851 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Zoetis were worth $9,728,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Callahan Advisors LLC increased its holdings in Zoetis by 90.4% in the 4th quarter. Callahan Advisors LLC now owns 13,105 shares of the company’s stock worth $2,135,000 after acquiring an additional 6,221 shares in the last quarter. Pensionfund Sabic increased its holdings in Zoetis by 55.6% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the company’s stock worth $1,825,000 after acquiring an additional 4,000 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Zoetis by 24.1% in the 4th quarter. CIBC Asset Management Inc now owns 237,369 shares of the company’s stock worth $38,617,000 after acquiring an additional 46,050 shares in the last quarter. PFW Advisors LLC purchased a new stake in Zoetis in the 4th quarter worth approximately $1,764,000. Finally, Alberta Investment Management Corp increased its holdings in Zoetis by 2,050.0% in the 4th quarter. Alberta Investment Management Corp now owns 30,100 shares of the company’s stock worth $4,904,000 after acquiring an additional 28,700 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Insider Buying and Selling

In related news, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the sale, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. This trade represents a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $170.00, for a total value of $55,420.00. Following the completion of the sale, the executive vice president now owns 15,781 shares of the company’s stock, valued at approximately $2,682,770. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,862 shares of company stock worth $312,254 over the last three months. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group began coverage on shares of Zoetis in a report on Monday, December 9th. They set a “neutral” rating and a $196.00 price objective for the company. Leerink Partners began coverage on shares of Zoetis in a report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective for the company. Finally, Barclays increased their price objective on shares of Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $215.90.

Zoetis Stock Up 2.6 %

NYSE ZTS opened at $165.39 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. The company has a market capitalization of $74.06 billion, a P/E ratio of 30.24, a P/E/G ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a one year low of $144.80 and a one year high of $200.33. The stock has a 50 day moving average price of $166.82 and a 200-day moving average price of $175.97.

Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. As a group, equities analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.21%. Zoetis’s dividend payout ratio is presently 36.56%.

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.