Grove Bank & Trust increased its position in shares of Zoetis Inc. (NYSE:ZTS – Free Report) by 36.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,065 shares of the company’s stock after acquiring an additional 4,302 shares during the period. Grove Bank & Trust’s holdings in Zoetis were worth $2,617,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cherry Creek Investment Advisors Inc. boosted its stake in shares of Zoetis by 2.0% during the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock worth $590,000 after acquiring an additional 58 shares in the last quarter. Hancock Whitney Corp raised its holdings in Zoetis by 0.3% during the third quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock worth $3,628,000 after purchasing an additional 61 shares during the last quarter. Strategy Asset Managers LLC boosted its position in Zoetis by 3.5% during the third quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company’s stock worth $356,000 after purchasing an additional 62 shares in the last quarter. Procyon Advisors LLC grew its holdings in Zoetis by 1.4% in the fourth quarter. Procyon Advisors LLC now owns 4,712 shares of the company’s stock valued at $768,000 after purchasing an additional 63 shares during the last quarter. Finally, Edge Capital Group LLC increased its position in shares of Zoetis by 3.7% in the second quarter. Edge Capital Group LLC now owns 1,786 shares of the company’s stock valued at $310,000 after buying an additional 64 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on ZTS shares. Leerink Partnrs upgraded shares of Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. upped 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. UBS Group started coverage on shares of Zoetis in a research note on Monday, December 9th. They set a “neutral” rating and a $196.00 price objective for the company. Leerink Partners assumed coverage on Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price on the stock. Finally, Stifel Nicolaus dropped their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $211.89.
Zoetis Trading Down 2.0 %
Shares of Zoetis stock opened at $166.01 on Friday. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $200.53. The business’s fifty day moving average is $170.93 and its two-hundred day moving average is $179.95. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The firm has a market cap of $74.90 billion, a PE ratio of 31.20, a P/E/G ratio of 2.51 and a beta of 0.89.
Zoetis (NYSE:ZTS – Get Free Report) last released its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.12. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 earnings per share. Analysts anticipate that Zoetis Inc. will post 5.91 earnings per share for the current year.
Zoetis Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, January 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.20%. This is an increase from Zoetis’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, January 21st. Zoetis’s payout ratio is presently 32.52%.
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.
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