Carl P. Sherr & Co. LLC Reduces Stock Position in Zoetis Inc. (NYSE:ZTS)

Carl P. Sherr & Co. LLC reduced its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 17.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,654 shares of the company’s stock after selling 980 shares during the quarter. Carl P. Sherr & Co. LLC’s holdings in Zoetis were worth $909,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ZTS. Darwin Wealth Management LLC purchased a new stake in Zoetis in the 3rd quarter worth approximately $31,000. First Personal Financial Services purchased a new stake in Zoetis in the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new stake in Zoetis in the 3rd quarter worth approximately $33,000. Quarry LP lifted its stake in Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after purchasing an additional 153 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of Zoetis by 1,387.5% in the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after buying an additional 222 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Stock Performance

Shares of ZTS stock opened at $176.74 on Friday. The company has a 50 day moving average price of $184.18 and a 200-day moving average price of $180.78. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The firm has a market capitalization of $79.74 billion, a PE ratio of 33.22, a P/E/G ratio of 2.71 and a beta of 0.90. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26.

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

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 32.52%.

Wall Street Analysts Forecast Growth

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