QRG Capital Management Inc. Sells 2,395 Shares of Zoetis Inc. (NYSE:ZTS)

QRG Capital Management Inc. lowered its position in Zoetis Inc. (NYSE:ZTS) by 3.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 74,125 shares of the company’s stock after selling 2,395 shares during the period. QRG Capital Management Inc.’s holdings in Zoetis were worth $12,205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZTS. Brighton Jones LLC increased its position in Zoetis by 180.4% during the 4th quarter. Brighton Jones LLC now owns 4,629 shares of the company’s stock valued at $754,000 after buying an additional 2,978 shares in the last quarter. Allspring Global Investments Holdings LLC increased 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 valued at $15,844,000 after buying an additional 41,741 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in Zoetis by 5.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 419,530 shares of the company’s stock valued at $68,354,000 after buying an additional 21,470 shares in the last quarter. Allworth Financial LP increased its position in Zoetis by 1,677.6% during the 4th quarter. Allworth Financial LP now owns 43,710 shares of the company’s stock valued at $7,283,000 after buying an additional 41,251 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in Zoetis during the 4th quarter valued at approximately $1,646,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

ZTS stock opened at $164.36 on Tuesday. The company has a market cap of $73.18 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. The stock’s fifty day moving average price is $159.07 and its 200-day moving average price is $163.75.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08. The firm had revenue of $2.22 billion for 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 company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the business posted $1.38 EPS. On average, equities analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a $0.50 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.22%. Zoetis’s dividend payout ratio (DPR) is currently 35.91%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ZTS. Wall Street Zen raised Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. UBS Group reduced their target price 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 lifted their target price on Zoetis from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Finally, Stifel Nicolaus reduced their target price on Zoetis from $180.00 to $165.00 and set a “buy” rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $212.75.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the sale, the executive vice president now owns 15,129 shares of the company’s stock, valued at approximately $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

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.