Fiduciary Trust Co Increases Stock Position in Zoetis Inc. (NYSE:ZTS)

Fiduciary Trust Co boosted its holdings in Zoetis Inc. (NYSE:ZTS) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,192 shares of the company’s stock after acquiring an additional 3,545 shares during the quarter. Fiduciary Trust Co’s holdings in Zoetis were worth $10,979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Darwin Wealth Management LLC bought a new stake in shares of Zoetis in the third quarter worth approximately $31,000. First Personal Financial Services purchased a new stake in shares of Zoetis in the third quarter worth $33,000. Capital Performance Advisors LLP purchased a new stake in Zoetis in the 3rd quarter worth $33,000. Quarry LP raised its stake in Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares during the period. Finally, LRI Investments LLC purchased a new stake in Zoetis during the 1st quarter valued at approximately $43,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

Zoetis stock opened at $176.74 on Thursday. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average price of $184.51 and a 200-day moving average price of $180.81. The firm has a market capitalization of $79.74 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 2.70 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 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 firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the company earned $1.36 EPS. Zoetis’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued 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 0.98%. Zoetis’s payout ratio is 32.52%.

Wall Street Analyst Weigh In

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

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.