Zoetis Inc. (NYSE:ZTS) Shares Sold by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI decreased its position in Zoetis Inc. (NYSE:ZTS) by 7.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,690 shares of the company’s stock after selling 725 shares during the period. Arcadia Investment Management Corp MI’s holdings in Zoetis were worth $1,698,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ZTS. Mission Wealth Management LP lifted its holdings in shares of Zoetis by 33.0% in the first quarter. Mission Wealth Management LP now owns 3,439 shares of the company’s stock valued at $582,000 after buying an additional 853 shares during the period. Choreo LLC lifted its holdings in shares of Zoetis by 2.7% in the first quarter. Choreo LLC now owns 5,196 shares of the company’s stock valued at $879,000 after buying an additional 136 shares during the period. BNP Paribas acquired a new stake in shares of Zoetis in the first quarter valued at $401,000. Fidelis Capital Partners LLC lifted its holdings in shares of Zoetis by 7.3% in the first quarter. Fidelis Capital Partners LLC now owns 5,320 shares of the company’s stock valued at $900,000 after buying an additional 360 shares during the period. Finally, Lincoln National Corp lifted its holdings in shares of Zoetis by 12.3% in the first quarter. Lincoln National Corp now owns 24,303 shares of the company’s stock valued at $4,112,000 after buying an additional 2,666 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Up 1.8 %

NYSE:ZTS opened at $181.95 on Friday. The firm has a market capitalization of $82.43 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 2.78 and a beta of 0.90. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The business’s fifty day moving average price is $188.97 and its 200 day moving average price is $178.69.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. Zoetis’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 earnings per share. On average, sell-side analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is currently 33.66%.

Wall Street Analysts Forecast Growth

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

Zoetis 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.