Private Trust Co. NA Sells 185 Shares of Zoetis Inc. (NYSE:ZTS)

Private Trust Co. NA lessened its holdings in Zoetis Inc. (NYSE:ZTS) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,299 shares of the company’s stock after selling 185 shares during the quarter. Private Trust Co. NA’s holdings in Zoetis were worth $1,817,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers boosted its holdings in shares of Zoetis by 275.2% in the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock valued at $16,259,000 after buying an additional 70,476 shares during the last quarter. Simplify Asset Management Inc. acquired a new stake in Zoetis in the third quarter valued at $11,684,000. Soltis Investment Advisors LLC acquired a new position in shares of Zoetis during the 1st quarter worth about $688,000. Bank Pictet & Cie Asia Ltd. increased 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 purchasing an additional 10,900 shares during the last quarter. Finally, Swedbank AB increased its stake in shares of Zoetis by 56.2% during the 2nd quarter. Swedbank AB now owns 1,946,277 shares of the company’s stock worth $337,407,000 after purchasing an additional 700,398 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

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

Zoetis Stock Performance

NYSE ZTS opened at $178.70 on Tuesday. The firm has a 50-day moving average price of $185.31 and a two-hundred day moving average price of $180.79. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a market capitalization of $80.62 billion, a P/E ratio of 33.59, 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 issued its quarterly 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. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s 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.