Connecticut Wealth Management LLC Trims Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Connecticut Wealth Management LLC lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 28.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,537 shares of the company’s stock after selling 3,061 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Zoetis were worth $1,228,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ZTS. Norges Bank bought a new stake in shares of Zoetis in the fourth quarter worth $824,321,000. Wellington Management Group LLP boosted its stake in Zoetis by 78.5% during the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock valued at $1,133,755,000 after acquiring an additional 3,059,255 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Zoetis during the 4th quarter worth $196,651,000. Polen Capital Management LLC increased its position in shares of Zoetis by 17.5% in the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock worth $1,219,237,000 after purchasing an additional 1,116,541 shares during the last quarter. Finally, Capital Research Global Investors acquired a new stake in shares of Zoetis in the 4th quarter valued at about $178,688,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zoetis

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the sale, the director now owns 11,245 shares of the company’s stock, valued at $1,868,244.30. The trade was a 9.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the 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 transaction, the executive vice president now directly owns 15,781 shares of the company’s stock, valued at approximately $2,682,770. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Zoetis Stock Down 1.4%

Shares of Zoetis stock opened at $161.33 on Thursday. The stock has a market capitalization of $71.82 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The business’s 50 day simple moving average is $156.58 and its 200-day simple moving average is $165.05.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 EPS. Equities research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ZTS shares. Barclays increased their price target on shares of Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Stifel Nicolaus reduced their target price on Zoetis from $180.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, April 14th. UBS Group lowered their price target on Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Piper Sandler upped their price target on Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. Finally, StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $212.75.

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.