CIBC Asset Management Inc Has $37.34 Million Stake in Zoetis Inc. (NYSE:ZTS)

CIBC Asset Management Inc lifted its stake in Zoetis Inc. (NYSE:ZTS) by 2.2% in the third quarter, HoldingsChannel.com reports. The firm owned 191,319 shares of the company’s stock after purchasing an additional 4,058 shares during the quarter. CIBC Asset Management Inc’s holdings in Zoetis were worth $37,339,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Zoetis by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock valued at $6,895,235,000 after purchasing an additional 414,605 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Zoetis by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock valued at $812,695,000 after acquiring an additional 178,303 shares during the last quarter. Capital Research Global Investors grew its holdings in Zoetis by 2.3% during the 1st quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock worth $685,416,000 after acquiring an additional 90,330 shares during the period. Clearbridge Investments LLC raised its position in shares of Zoetis by 5.8% during the 2nd quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock valued at $527,774,000 after acquiring an additional 166,517 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Zoetis by 17.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company’s stock valued at $464,497,000 after purchasing an additional 351,372 shares during the period. Institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ZTS. BTIG Research upped their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Piper Sandler upped their price target on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. 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. Finally, Argus upgraded shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Ten investment 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.com, Zoetis currently has a consensus rating of “Buy” and a consensus price target of $221.44.

Zoetis Stock Up 0.3 %

Shares of ZTS stock opened at $175.12 on Friday. The company has a market capitalization of $79.01 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 2.68 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 firm has a fifty day moving average of $187.37 and a 200-day moving average of $179.98. 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 released 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. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $1.36 EPS. As a group, equities research analysts predict that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders 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 yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is currently 32.52%.

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.