CNB Bank Reduces Stock Position in Zoetis Inc. (NYSE:ZTS)

CNB Bank trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 7.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,285 shares of the company’s stock after selling 596 shares during the period. CNB Bank’s holdings in Zoetis were worth $1,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ZTS. Asset Dedication LLC grew its position in Zoetis by 4.8% during the second quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock valued at $204,000 after purchasing an additional 54 shares in the last quarter. Forza Wealth Management LLC increased its stake in shares of Zoetis by 1.8% in the second quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock worth $574,000 after acquiring an additional 58 shares during the last quarter. L. Roy Papp & Associates LLP raised its holdings in shares of Zoetis by 2.8% during the second quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock worth $385,000 after acquiring an additional 60 shares in the last quarter. Grove Bank & Trust boosted its position in Zoetis by 0.5% during the third quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock valued at $2,298,000 after purchasing an additional 61 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its stake in Zoetis by 3.8% in the first quarter. Angeles Wealth Management LLC now owns 1,702 shares of the company’s stock valued at $288,000 after purchasing an additional 62 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on ZTS. JPMorgan Chase & Co. increased their price objective on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. BTIG Research lifted 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. Stifel Nicolaus boosted their price objective on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Argus raised Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Piper Sandler raised their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zoetis has a consensus rating of “Buy” and an average price target of $221.44.

Zoetis Stock Up 1.2 %

NYSE ZTS opened at $193.28 on Friday. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a market capitalization of $87.57 billion, a price-to-earnings ratio of 37.82, a PEG ratio of 3.00 and a beta of 0.89. The stock’s 50 day moving average is $188.98 and its two-hundred day moving average is $177.07. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32.

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

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is currently 33.86%.

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.