Rockefeller Capital Management L.P. Buys 12,358 Shares of Zoetis Inc. (NYSE:ZTS)

Rockefeller Capital Management L.P. increased its position in Zoetis Inc. (NYSE:ZTS) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 459,729 shares of the company’s stock after buying an additional 12,358 shares during the quarter. Rockefeller Capital Management L.P. owned 0.10% of Zoetis worth $89,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in ZTS. Cetera Investment Advisers grew its stake in shares of Zoetis by 275.2% during the first quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock valued at $16,259,000 after buying an additional 70,476 shares during the last quarter. Simplify Asset Management Inc. purchased a new position in Zoetis in the 3rd quarter worth approximately $11,684,000. Soltis Investment Advisors LLC bought a new stake in Zoetis in the first quarter valued at approximately $688,000. Bank Pictet & Cie Asia Ltd. boosted its stake in shares of Zoetis by 41.0% during the second quarter. Bank Pictet & Cie Asia Ltd. now owns 37,500 shares of the company’s stock valued at $6,501,000 after purchasing an additional 10,900 shares during the period. Finally, Swedbank AB grew its holdings in shares of Zoetis by 56.2% in the second quarter. Swedbank AB now owns 1,946,277 shares of the company’s stock worth $337,407,000 after purchasing an additional 700,398 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BTIG Research boosted their price objective 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. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Stifel Nicolaus boosted their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lifted their price target on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Piper Sandler raised their target price 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 investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $221.44.

Zoetis Stock Performance

Shares of NYSE ZTS opened at $176.74 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The firm has a fifty day moving average price of $184.18 and a 200-day moving average price of $180.78. The stock has a market cap of $79.74 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period last year, the firm earned $1.36 earnings per share. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is 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.