Zoetis Inc. (NYSE:ZTS) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. lessened its stake in shares of Zoetis Inc. (NYSE:ZTS) by 21.3% during the third quarter, Holdings Channel.com reports. The fund owned 5,482 shares of the company’s stock after selling 1,484 shares during the period. Wrapmanager Inc.’s holdings in Zoetis were worth $1,071,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Mizuho Securities USA LLC boosted its holdings in Zoetis by 13,726.9% during the third quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock worth $950,524,000 after buying an additional 4,829,815 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Zoetis by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock worth $812,695,000 after buying an additional 178,303 shares in the last quarter. Capital Research Global Investors boosted its holdings in Zoetis by 2.3% during the first quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock worth $685,416,000 after buying an additional 90,330 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Zoetis by 5.8% during the second quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock worth $527,774,000 after buying an additional 166,517 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Zoetis by 17.3% during the third quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company’s stock worth $464,497,000 after buying an additional 351,372 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ZTS shares. 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 report on Wednesday, August 14th. JPMorgan Chase & Co. raised 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 raised their price objective on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. BTIG Research raised their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Argus raised shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Up 0.7 %

Zoetis stock opened at $176.42 on Tuesday. The company has a market capitalization of $79.60 billion, a P/E ratio of 33.16, a P/E/G ratio of 2.69 and a beta of 0.90. The firm’s fifty day simple moving average is $186.78 and its 200-day simple moving average is $180.45. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

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

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be issued 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 0.98%. Zoetis’s dividend payout ratio is currently 32.52%.

About Zoetis

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.