M&T Bank Corp Sells 13,965 Shares of Zoetis Inc. (NYSE:ZTS)

M&T Bank Corp reduced its position in Zoetis Inc. (NYSE:ZTS) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 283,670 shares of the company’s stock after selling 13,965 shares during the quarter. M&T Bank Corp owned approximately 0.06% of Zoetis worth $46,218,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Howard Capital Management Group LLC raised its position in shares of Zoetis by 0.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 104,866 shares of the company’s stock worth $20,489,000 after acquiring an additional 883 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in Zoetis by 11.8% during the third quarter. Chicago Partners Investment Group LLC now owns 2,518 shares of the company’s stock worth $476,000 after purchasing an additional 265 shares during the period. Janney Montgomery Scott LLC increased its holdings in Zoetis by 3.2% in the third quarter. Janney Montgomery Scott LLC now owns 103,884 shares of the company’s stock worth $20,297,000 after purchasing an additional 3,208 shares in the last quarter. Confluence Wealth Services Inc. lifted its stake in Zoetis by 15.9% in the third quarter. Confluence Wealth Services Inc. now owns 1,555 shares of the company’s stock valued at $304,000 after buying an additional 213 shares during the period. Finally, National Pension Service boosted its holdings in shares of Zoetis by 11.5% during the 3rd quarter. National Pension Service now owns 933,399 shares of the company’s stock worth $182,367,000 after buying an additional 96,539 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Trading Down 0.4 %

NYSE ZTS opened at $169.79 on Wednesday. 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 has a fifty day simple moving average of $166.53 and a 200 day simple moving average of $177.06. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $200.33. The firm has a market capitalization of $76.03 billion, a P/E ratio of 31.04, a PEG ratio of 2.78 and a beta of 0.90.

Zoetis (NYSE:ZTS) last announced its earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating 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 company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.30 billion. On average, analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm 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 1.18%. The ex-dividend date is Monday, April 21st. Zoetis’s dividend payout ratio is presently 36.56%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. UBS Group assumed coverage on shares of Zoetis in a research report on Monday, December 9th. They set a “neutral” rating and a $196.00 price objective on the stock. Piper Sandler boosted their target price on Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Morgan Stanley dropped their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Finally, Leerink Partners initiated coverage on Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $215.90.

Insider Activity at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the completion of the transaction, the executive vice president now owns 16,107 shares in the company, valued at $2,757,196.26. This represents a 1.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by company insiders.

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.