Sawgrass Asset Management LLC Has $11.02 Million Holdings in Zoetis Inc. (NYSE:ZTS)

Sawgrass Asset Management LLC boosted its position in shares of Zoetis Inc. (NYSE:ZTS) by 28.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,827 shares of the company’s stock after purchasing an additional 12,242 shares during the period. Sawgrass Asset Management LLC’s holdings in Zoetis were worth $11,019,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Zoetis by 2.5% during the 3rd quarter. Wellington Management Group LLP now owns 12,344,692 shares of the company’s stock worth $2,147,730,000 after buying an additional 297,044 shares in the last quarter. Northern Trust Corp raised its stake in shares of Zoetis by 3.3% during the 3rd quarter. Northern Trust Corp now owns 6,143,258 shares of the company’s stock worth $1,068,804,000 after purchasing an additional 196,771 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Zoetis by 3.1% in the 3rd quarter. Royal Bank of Canada now owns 3,026,518 shares of the company’s stock valued at $526,553,000 after buying an additional 91,713 shares during the last quarter. Blair William & Co. IL increased its holdings in Zoetis by 1.4% during the third quarter. Blair William & Co. IL now owns 2,428,509 shares of the company’s stock worth $422,512,000 after buying an additional 32,918 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Zoetis by 0.5% in the third quarter. Principal Financial Group Inc. now owns 2,126,090 shares of the company’s stock valued at $369,736,000 after acquiring an additional 10,153 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a report on Monday. Stifel Nicolaus cut their price target on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. StockNews.com lowered shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. HSBC decreased their price target on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $211.75.

Zoetis Price Performance

Shares of NYSE ZTS traded down $3.53 during midday trading on Wednesday, reaching $164.92. 4,669,191 shares of the company were exchanged, compared to its average volume of 3,195,939. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The stock has a market cap of $75.25 billion, a P/E ratio of 31.78, a PEG ratio of 2.57 and a beta of 0.86. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. The stock’s 50-day moving average price is $167.64 and its 200-day moving average price is $178.93.

Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Zoetis Inc. will post 5.77 earnings per share for the current fiscal year.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 363 shares of Zoetis stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $197.74, for a total transaction of $71,779.62. Following the completion of the transaction, the executive vice president now owns 20,417 shares of the company’s stock, valued at approximately $4,037,257.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 2,209 shares of company stock valued at $371,293 in the last 90 days. 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.