Zoetis Inc. (NYSE:ZTS) Position Reduced by M&T Bank Corp

M&T Bank Corp trimmed its stake in shares of Zoetis Inc. (NYSE:ZTS) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 397,223 shares of the company’s stock after selling 15,908 shares during the quarter. M&T Bank Corp owned approximately 0.09% of Zoetis worth $78,400,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ZTS. Cary Street Partners Investment Advisory LLC lifted its position in shares of Zoetis by 7.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 93,735 shares of the company’s stock worth $16,308,000 after buying an additional 6,457 shares during the last quarter. Peak Financial Advisors LLC bought a new stake in Zoetis in the 4th quarter valued at about $2,776,000. BLB&B Advisors LLC lifted its position in Zoetis by 1.9% in the 3rd quarter. BLB&B Advisors LLC now owns 60,872 shares of the company’s stock valued at $10,591,000 after purchasing an additional 1,107 shares during the last quarter. Ninety One UK Ltd lifted 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 valued at $21,374,000 after purchasing an additional 12,537 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Zoetis by 10.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock valued at $36,230,000 after purchasing an additional 17,976 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. StockNews.com cut shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group raised their target price on shares of Zoetis from $190.00 to $226.00 and gave the company 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 note on Tuesday, April 23rd. Finally, Stifel Nicolaus lowered their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $216.13.

Zoetis Price Performance

Shares of ZTS traded down $0.16 during mid-day trading on Friday, hitting $167.07. The company’s stock had a trading volume of 3,007,125 shares, compared to its average volume of 4,607,073. The firm has a 50-day moving average price of $168.88 and a 200 day moving average price of $178.84. The stock has a market capitalization of $76.41 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.61 and a beta of 0.86. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.04. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.74%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $1.31 earnings per share. On average, research analysts predict that Zoetis Inc. will post 5.77 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be given a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, April 18th. Zoetis’s dividend payout ratio (DPR) is currently 33.33%.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 363 shares of Zoetis stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $197.74, for a total value of $71,779.62. Following the transaction, the executive vice president now directly owns 20,417 shares of the company’s stock, valued at $4,037,257.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 2,209 shares of company stock valued at $371,293 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

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.