RBO & Co. LLC Reduces Stock Holdings in Zoetis Inc. (NYSE:ZTS)

RBO & Co. LLC cut its holdings in Zoetis Inc. (NYSE:ZTS) by 0.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 89,818 shares of the company’s stock after selling 225 shares during the quarter. Zoetis comprises 2.8% of RBO & Co. LLC’s holdings, making the stock its 16th largest position. RBO & Co. LLC’s holdings in Zoetis were worth $17,549,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Silvercrest Asset Management Group LLC increased its stake in Zoetis by 33.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 12,793 shares of the company’s stock valued at $2,165,000 after purchasing an additional 3,193 shares in the last quarter. Kennedy Capital Management LLC purchased a new position in Zoetis in the 1st quarter worth $883,000. B. Riley Wealth Advisors Inc. lifted its position in Zoetis by 17.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,016 shares of the company’s stock worth $2,786,000 after acquiring an additional 2,370 shares during the period. Tidal Investments LLC grew its stake in Zoetis by 9.8% during the 1st quarter. Tidal Investments LLC now owns 8,703 shares of the company’s stock valued at $1,471,000 after purchasing an additional 776 shares during the last quarter. Finally, Hancock Whitney Corp increased its holdings in shares of Zoetis by 7.7% in the first quarter. Hancock Whitney Corp now owns 18,531 shares of the company’s stock valued at $3,136,000 after purchasing an additional 1,319 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of ZTS stock opened at $175.70 on Wednesday. The company has a current ratio of 3.69, a quick ratio of 2.27 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. The business’s 50 day moving average is $184.91 and its two-hundred day moving average is $180.84. The company has a market capitalization of $79.27 billion, a P/E ratio of 33.03, a P/E/G ratio of 2.74 and a beta of 0.90.

Zoetis (NYSE:ZTS) last announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 EPS. Analysts expect 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. Investors of record on Thursday, October 31st will be given a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. Zoetis’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Upgrades and Downgrades

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