Ferguson Wellman Capital Management Inc. Cuts Holdings in Zoetis Inc. (NYSE:ZTS)

Ferguson Wellman Capital Management Inc. lessened its stake in Zoetis Inc. (NYSE:ZTS) by 5.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 16,741 shares of the company’s stock after selling 970 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Zoetis were worth $3,271,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. First Personal Financial Services acquired a new position in Zoetis during the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP acquired a new position in shares of Zoetis during the third quarter worth $33,000. Quarry LP increased its holdings in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after buying an additional 153 shares during the last quarter. LRI Investments LLC acquired a new stake in Zoetis in the first quarter valued at $43,000. Finally, Fortitude Family Office LLC lifted its holdings in Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after buying an additional 222 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Zoetis Price Performance

Shares of NYSE:ZTS opened at $174.63 on Friday. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The stock has a market capitalization of $78.79 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 2.72 and a beta of 0.90. The company has a 50-day simple moving average of $187.61 and a 200-day simple moving average of $180.02. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data 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 firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $1.36 EPS. On average, analysts predict that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.99%. Zoetis’s payout ratio is currently 32.52%.

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.