Envestnet Asset Management Inc. Sells 331,544 Shares of Zoetis Inc. $ZTS

Envestnet Asset Management Inc. reduced its position in Zoetis Inc. (NYSE:ZTS) by 15.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,857,698 shares of the company’s stock after selling 331,544 shares during the quarter. Envestnet Asset Management Inc. owned 0.42% of Zoetis worth $271,818,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ZTS. Norges Bank bought a new stake in Zoetis during the 2nd quarter valued at $809,491,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Zoetis by 113.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,761,920 shares of the company’s stock worth $586,671,000 after purchasing an additional 1,995,491 shares during the last quarter. Corient Private Wealth LLC boosted its position in Zoetis by 85.9% during the second quarter. Corient Private Wealth LLC now owns 2,578,593 shares of the company’s stock valued at $400,619,000 after purchasing an additional 1,191,840 shares in the last quarter. Impax Asset Management Group plc grew its stake in Zoetis by 362.6% in the second quarter. Impax Asset Management Group plc now owns 1,176,996 shares of the company’s stock valued at $182,705,000 after purchasing an additional 922,589 shares during the last quarter. Finally, Swedbank AB raised its holdings in Zoetis by 60.4% in the third quarter. Swedbank AB now owns 2,436,888 shares of the company’s stock worth $356,565,000 after purchasing an additional 917,598 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of ZTS opened at $126.70 on Friday. The firm has a market capitalization of $55.84 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 2.19 and a beta of 0.96. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.64 and a quick ratio of 2.28. Zoetis Inc. has a 1-year low of $115.25 and a 1-year high of $177.40. The company’s fifty day moving average price is $123.97 and its 200-day moving average price is $136.55.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, November 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.08. Zoetis had a return on equity of 57.19% and a net margin of 28.21%.The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the business posted $1.58 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis. On average, equities research analysts predict that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Monday, April 20th will be given a $0.53 dividend. The ex-dividend date is Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a yield of 1.7%. Zoetis’s dividend payout ratio is currently 35.69%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Zoetis from $230.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. BTIG Research restated a “buy” rating and issued a $160.00 target price on shares of Zoetis in a research note on Wednesday, December 3rd. Barclays started coverage on shares of Zoetis in a report on Monday, December 8th. They issued an “equal weight” rating and a $136.00 price target on the stock. The Goldman Sachs Group upgraded Zoetis to a “buy” rating in a report on Monday, December 15th. Finally, Weiss Ratings downgraded Zoetis from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, January 28th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $152.45.

About Zoetis

Zoetis Inc (NYSE: ZTS) is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company’s offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.