Zoetis Inc. (NYSE:ZTS) Shares Sold by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC lessened its stake in shares of Zoetis Inc. (NYSE:ZTS) by 2.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 478,959 shares of the company’s stock after selling 10,674 shares during the period. Zoetis accounts for about 1.8% of Douglass Winthrop Advisors LLC’s portfolio, making the stock its 25th largest position. Douglass Winthrop Advisors LLC’s holdings in Zoetis were worth $93,579,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Darwin Wealth Management LLC acquired a new stake in shares of Zoetis during the third quarter valued at $31,000. First Personal Financial Services purchased a new position in Zoetis in the 3rd quarter valued at about $33,000. Capital Performance Advisors LLP purchased a new position in Zoetis in the 3rd quarter valued at about $33,000. Quarry LP boosted its stake in shares of Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after purchasing an additional 153 shares during the last quarter. Finally, Fortitude Family Office LLC grew its holdings in shares of Zoetis by 1,387.5% during the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ZTS has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Stifel Nicolaus upped their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. BTIG Research raised their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted 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 research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $221.44.

Zoetis Stock Performance

Shares of NYSE:ZTS opened at $176.96 on Monday. The business has a 50-day moving average of $185.62 and a two-hundred day moving average of $180.72. The firm has a market capitalization of $79.84 billion, a PE ratio of 33.26, a P/E/G ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27.

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

Zoetis Announces Dividend

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