Zoetis Inc. (NYSE:ZTS) Shares Bought by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC grew its stake in Zoetis Inc. (NYSE:ZTS) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,409 shares of the company’s stock after purchasing an additional 445 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Zoetis were worth $1,252,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Whittier Trust Co. increased its holdings in shares of Zoetis by 3.2% in the 1st quarter. Whittier Trust Co. now owns 10,810 shares of the company’s stock valued at $1,829,000 after acquiring an additional 332 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Zoetis by 8.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,792 shares of the company’s stock worth $472,000 after purchasing an additional 208 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Zoetis in the 1st quarter worth about $509,000. Proficio Capital Partners LLC lifted its position in shares of Zoetis by 6.5% in the 1st quarter. Proficio Capital Partners LLC now owns 2,761 shares of the company’s stock worth $467,000 after buying an additional 169 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Zoetis by 58.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,931 shares of the company’s stock valued at $7,095,000 after buying an additional 15,491 shares during the period. Institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Zoetis Price Performance

ZTS opened at $175.18 on Tuesday. The firm has a market capitalization of $79.37 billion, a P/E ratio of 34.28, a PEG ratio of 2.82 and a beta of 0.90. The stock has a fifty day moving average of $188.84 and a 200-day moving average of $179.03. 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 12-month low of $144.80 and a 12-month high of $201.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the business earned $1.41 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts forecast that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders 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 yield of 0.99%. Zoetis’s dividend payout ratio is presently 33.86%.

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.