Corebridge Financial Inc. Sells 7,041 Shares of Zoetis Inc. (NYSE:ZTS)

Corebridge Financial Inc. reduced its position in Zoetis Inc. (NYSE:ZTS) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,829 shares of the company’s stock after selling 7,041 shares during the quarter. Corebridge Financial Inc.’s holdings in Zoetis were worth $20,013,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC boosted its position in Zoetis by 0.8% in the third quarter. Howard Capital Management Group LLC now owns 104,866 shares of the company’s stock valued at $20,489,000 after buying an additional 883 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Zoetis by 17.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company’s stock valued at $464,497,000 after acquiring an additional 351,372 shares during the period. Cerity Partners LLC increased its stake in shares of Zoetis by 29.0% in the 3rd quarter. Cerity Partners LLC now owns 152,822 shares of the company’s stock valued at $29,859,000 after purchasing an additional 34,359 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of Zoetis by 8.5% in the third quarter. Kingsview Wealth Management LLC now owns 9,889 shares of the company’s stock valued at $1,932,000 after buying an additional 775 shares in the last quarter. Finally, Algert Global LLC increased its holdings in Zoetis by 1,182.5% in the 3rd quarter. Algert Global LLC now owns 24,676 shares of the company’s stock worth $4,821,000 after acquiring an additional 22,752 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Trading Up 0.1 %

NYSE:ZTS opened at $163.22 on Tuesday. The stock has a fifty day moving average price of $166.70 and a 200 day moving average price of $175.22. 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 firm has a market cap of $73.09 billion, a PE 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.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Sell-side analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

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

Analyst Upgrades and Downgrades

ZTS has been the subject of several research reports. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Barclays lifted their price target on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Stifel Nicolaus decreased their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Leerink Partners initiated coverage on shares of Zoetis in a research report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price on the stock. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $215.90.

Insiders Place Their Bets

In related news, 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 transaction of $55,420.00. Following the completion of the sale, the executive vice president now directly owns 15,781 shares of the company’s stock, valued at $2,682,770. This trade represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Willie M. Reed sold 1,210 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the transaction, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. This represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,862 shares of company stock valued at $312,254. 0.16% of the stock is currently owned by insiders.

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.