Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Zoetis Inc. (NYSE:ZTS) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,920 shares of the company’s stock after purchasing an additional 16,421 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zoetis were worth $40,037,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ZTS. Darwin Wealth Management LLC bought a new position in Zoetis in the 3rd quarter worth about $31,000. First Personal Financial Services bought a new position in shares of Zoetis in the third quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new stake in Zoetis in the third quarter valued at approximately $33,000. Quarry LP lifted its position in Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in Zoetis in the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 0.6 %

NYSE:ZTS opened at $176.74 on Friday. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a 50-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 price-to-earnings ratio of 33.22, a P/E/G ratio of 2.71 and a beta of 0.90.

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

Zoetis Announces Dividend

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 issued 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 0.98%. Zoetis’s dividend payout ratio (DPR) is presently 32.52%.

Wall Street Analyst Weigh In

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

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.