Pitcairn Co. Cuts Holdings in Zoetis Inc. (NYSE:ZTS)

Pitcairn Co. trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 5.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 37,778 shares of the company’s stock after selling 1,980 shares during the period. Pitcairn Co.’s holdings in Zoetis were worth $7,381,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Cetera Investment Advisers raised its stake in shares of Zoetis by 275.2% during the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after buying an additional 70,476 shares in the last quarter. Simplify Asset Management Inc. purchased a new position in shares of Zoetis during the 3rd quarter worth approximately $11,684,000. Soltis Investment Advisors LLC purchased a new position in shares of Zoetis during the 1st quarter worth approximately $688,000. Bank Pictet & Cie Asia Ltd. raised its stake in shares of Zoetis by 41.0% during the 2nd quarter. Bank Pictet & Cie Asia Ltd. now owns 37,500 shares of the company’s stock worth $6,501,000 after buying an additional 10,900 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of Zoetis by 56.2% in the 2nd quarter. Swedbank AB now owns 1,946,277 shares of the company’s stock worth $337,407,000 after acquiring an additional 700,398 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Price Performance

Shares of NYSE:ZTS opened at $176.98 on Friday. The business’s fifty day moving average price is $185.62 and its two-hundred day moving average price is $180.53. The stock has a market cap of $79.85 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92.

Zoetis (NYSE:ZTS) last announced its earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. Zoetis’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts forecast that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders 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 dividend yield of 0.98%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is 32.52%.

Analysts Set New Price Targets

ZTS has been the topic of a number of research reports. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research upped their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus upped their price target on 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 target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Piper Sandler upped their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus 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.