Glenmede Trust Co. NA Raises Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Glenmede Trust Co. NA raised its position in shares of Zoetis Inc. (NYSE:ZTS) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 148,287 shares of the company’s stock after buying an additional 260 shares during the quarter. Glenmede Trust Co. NA’s holdings in Zoetis were worth $28,972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Dedication LLC increased its position in shares of Zoetis by 4.8% during the second quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock worth $204,000 after purchasing an additional 54 shares in the last quarter. Forza Wealth Management LLC increased its stake in Zoetis by 1.8% during the 2nd quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock valued at $574,000 after purchasing an additional 58 shares in the last quarter. Cherry Creek Investment Advisors Inc. raised its holdings in shares of Zoetis by 2.0% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock worth $590,000 after buying an additional 58 shares during the last quarter. L. Roy Papp & Associates LLP lifted its stake 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 buying an additional 60 shares during the period. Finally, Grove Bank & Trust raised its stake in shares of Zoetis by 0.5% during the 3rd quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock valued at $2,298,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus boosted their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. BTIG Research raised their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Piper Sandler upped their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $221.44.

Zoetis Stock Performance

ZTS opened at $176.74 on Thursday. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The firm has a market capitalization of $79.74 billion, a PE ratio of 33.22, a PEG ratio of 2.70 and a beta of 0.90. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The firm’s 50-day moving average price is $184.51 and its 200 day moving average price is $180.81.

Zoetis (NYSE:ZTS) last posted its quarterly 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 business had revenue of $2.40 billion during 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% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 earnings per share. As a group, sell-side analysts expect that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be paid a $0.432 dividend. 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 32.52%.

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.