TD Asset Management Inc. Sells 79,160 Shares of Zoetis Inc. (NYSE:ZTS)

TD Asset Management Inc. reduced its stake in shares of Zoetis Inc. (NYSE:ZTS) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,618,309 shares of the company’s stock after selling 79,160 shares during the quarter. TD Asset Management Inc. owned approximately 0.36% of Zoetis worth $263,671,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ZTS. Raymond James Financial Inc. bought a new stake in shares of Zoetis in the 4th quarter valued at about $196,651,000. Polen Capital Management LLC lifted its position in Zoetis by 17.5% during the fourth quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock valued at $1,219,237,000 after acquiring an additional 1,116,541 shares during the last quarter. Amundi boosted its stake in Zoetis by 46.2% in the fourth quarter. Amundi now owns 2,748,719 shares of the company’s stock valued at $453,355,000 after acquiring an additional 867,993 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Zoetis by 296.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 889,444 shares of the company’s stock worth $144,917,000 after purchasing an additional 665,331 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Zoetis by 38.3% in the fourth quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company’s stock worth $336,266,000 after purchasing an additional 572,511 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Up 0.1 %

ZTS stock opened at $163.22 on Tuesday. The company has a market capitalization of $73.09 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $200.33. The firm’s fifty day simple moving average is $166.70 and its 200-day simple moving average is $175.22. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. The company had revenue of $2.32 billion for 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 research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Monday, April 21st. Zoetis’s payout ratio is presently 36.56%.

Analysts Set New Price Targets

Several analysts have recently commented on ZTS shares. Leerink Partners started coverage on Zoetis in a report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective for the company. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Piper Sandler increased their price objective on shares of Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley lowered their target price on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Zoetis presently has a consensus rating of “Buy” and an average price target of $215.90.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were 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 owns 15,781 shares in the company, valued at approximately $2,682,770. This represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Willie M. Reed sold 1,210 shares of the stock in a transaction dated 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 directly owns 11,245 shares in the company, valued at approximately $1,868,244.30. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,862 shares of company stock worth $312,254. Corporate insiders own 0.16% 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.