Community Trust & Investment Co. Increases Stake in Zoetis Inc. (NYSE:ZTS)

Community Trust & Investment Co. raised its position in Zoetis Inc. (NYSE:ZTS) by 0.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 106,194 shares of the company’s stock after purchasing an additional 65 shares during the period. Zoetis accounts for approximately 1.3% of Community Trust & Investment Co.’s portfolio, making the stock its 25th biggest holding. Community Trust & Investment Co.’s holdings in Zoetis were worth $20,748,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Webster Bank N. A. raised its holdings in shares of Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares during the period. Quarry LP raised its holdings 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 acquiring an additional 153 shares during the period. LRI Investments LLC purchased a new position in shares of Zoetis during the 1st quarter worth $43,000. Central Valley Advisors LLC purchased a new position in shares of Zoetis during the 2nd quarter worth $49,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Zoetis during the 1st quarter worth $51,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

NYSE ZTS opened at $189.52 on Wednesday. The company has a market cap of $86.48 billion, a P/E ratio of 36.52, a P/E/G ratio of 3.00 and a beta of 0.89. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The stock has a 50-day moving average of $189.11 and a two-hundred day moving average of $177.50. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.07. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. Zoetis’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. As a group, analysts anticipate that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.91%. Zoetis’s payout ratio is 33.14%.

Analysts Set New Price Targets

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