Cullen Frost Bankers Inc. Sells 22,962 Shares of Zoetis Inc. (NYSE:ZTS)

Cullen Frost Bankers Inc. reduced its position in Zoetis Inc. (NYSE:ZTS) by 12.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 158,104 shares of the company’s stock after selling 22,962 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Zoetis were worth $31,205,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of analyst reports. StockNews.com lowered Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Stifel Nicolaus decreased their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Barclays decreased their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Finally, The Goldman Sachs Group decreased their target price on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $212.38.

Zoetis Price Performance

NYSE ZTS traded up $2.50 during trading hours on Tuesday, hitting $168.45. The company had a trading volume of 3,318,087 shares, compared to its average volume of 3,179,154. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The firm has a 50 day simple moving average of $167.64 and a 200 day simple moving average of $178.93. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. The firm has a market capitalization of $76.86 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.62 and a beta of 0.86.

Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $2.14 billion. During the same quarter last year, the company earned $1.31 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. Equities research analysts expect that Zoetis Inc. will post 5.77 earnings per share for the current year.

Insider Activity

In other news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $173.33, for a total transaction of $159,983.59. Following the completion of the sale, the executive vice president now owns 15,723 shares in the company, valued at approximately $2,725,267.59. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 2,209 shares of company stock worth $371,293. 0.16% of the stock is currently owned by insiders.

Zoetis Company 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.