Bank of Montreal Can Sells 136,525 Shares of Zoetis Inc. (NYSE:ZTS)

Bank of Montreal Can decreased its holdings in Zoetis Inc. (NYSE:ZTS) by 12.2% in the third quarter, Holdings Channel reports. The fund owned 984,606 shares of the company’s stock after selling 136,525 shares during the quarter. Bank of Montreal Can’s holdings in Zoetis were worth $191,811,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZTS. Silvercrest Asset Management Group LLC raised its stake in shares of Zoetis by 33.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 12,793 shares of the company’s stock valued at $2,165,000 after acquiring an additional 3,193 shares during the period. Kennedy Capital Management LLC purchased a new position in shares of Zoetis during the first quarter valued at approximately $883,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Zoetis by 17.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 16,016 shares of the company’s stock valued at $2,786,000 after buying an additional 2,370 shares during the period. California State Teachers Retirement System grew its stake in shares of Zoetis by 0.4% during the first quarter. California State Teachers Retirement System now owns 743,807 shares of the company’s stock valued at $125,860,000 after buying an additional 2,872 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of Zoetis by 9.8% during the 1st quarter. Tidal Investments LLC now owns 8,703 shares of the company’s stock worth $1,471,000 after acquiring an additional 776 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 1.0 %

NYSE ZTS opened at $178.70 on Tuesday. Zoetis Inc. has a 1 year low of $144.80 and a 1 year 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. The company has a market capitalization of $80.62 billion, a PE ratio of 33.59, a P/E/G ratio of 2.71 and a beta of 0.90. The company has a fifty day moving average of $185.31 and a 200 day moving average of $180.79.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.46 by $0.12. The business 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 business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. Research analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be given a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is presently 32.52%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZTS. BTIG Research lifted their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Piper Sandler raised their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus lifted their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. increased their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note 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. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $221.44.

Zoetis 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.