Zoetis Inc. (NYSE:ZTS) Shares Sold by Covestor Ltd

Covestor Ltd cut its position in shares of Zoetis Inc. (NYSE:ZTS) by 23.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 673 shares of the company’s stock after selling 202 shares during the quarter. Covestor Ltd’s holdings in Zoetis were worth $132,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. First Personal Financial Services acquired a new stake in shares of Zoetis during the third quarter worth $33,000. Capital Performance Advisors LLP acquired a new stake in Zoetis in the 3rd quarter worth about $33,000. Quarry LP grew its holdings in Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after buying an additional 153 shares during the period. Fortitude Family Office LLC increased its stake in shares of Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after acquiring an additional 222 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Zoetis in the first quarter worth approximately $43,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Performance

ZTS stock opened at $176.16 on Tuesday. The company has a market capitalization of $79.48 billion, a price-to-earnings ratio of 33.11, a P/E/G ratio of 2.71 and a beta of 0.90. The firm has a 50 day moving average of $188.15 and a two-hundred day moving average of $179.77. The company has a quick ratio of 2.09, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.36 earnings per share. As a group, equities analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.98%. Zoetis’s dividend payout ratio (DPR) is presently 32.33%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BTIG Research lifted their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus boosted their price target on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler lifted their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Ten 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 company has a consensus rating of “Buy” and a consensus target price of $221.44.

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.