Brighton Jones LLC Sells 4,112 Shares of Zoetis Inc. (NYSE:ZTS)

Brighton Jones LLC reduced its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 71.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,651 shares of the company’s stock after selling 4,112 shares during the period. Brighton Jones LLC’s holdings in Zoetis were worth $323,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Prevail Innovative Wealth Advisors LLC increased its holdings in shares of Zoetis by 24.5% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock valued at $3,211,000 after acquiring an additional 3,738 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Zoetis by 58.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,931 shares of the company’s stock worth $7,095,000 after buying an additional 15,491 shares in the last quarter. Duality Advisers LP grew its holdings in shares of Zoetis by 43.7% during the first quarter. Duality Advisers LP now owns 40,641 shares of the company’s stock valued at $6,877,000 after buying an additional 12,359 shares during the last quarter. M&G Plc bought a new stake in shares of Zoetis during the first quarter valued at approximately $19,819,000. Finally, Cetera Investment Advisers raised its holdings in Zoetis by 275.2% in the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after acquiring an additional 70,476 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 0.8 %

NYSE ZTS opened at $180.01 on Friday. The stock’s 50-day moving average price is $189.10 and its 200-day moving average price is $177.71. The company has a market capitalization of $82.14 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 2.94 and a beta of 0.89. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.07. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. On average, equities research analysts predict that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be given a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.96%. Zoetis’s payout ratio is 33.14%.

Analyst Upgrades and Downgrades

ZTS has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Piper Sandler lifted their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. BTIG Research raised their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus increased their price target on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $221.44.

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.