abrdn plc Sells 26,386 Shares of Zoetis Inc. (NYSE:ZTS)

by · The Cerbat Gem

abrdn plc decreased its holdings in shares of Zoetis Inc. (NYSE:ZTS – Free Report) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,157,475 shares of the company’s stock after selling 26,386 shares during the quarter. abrdn plc’s holdings in Zoetis were worth $225,054,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SFE Investment Counsel increased its position in Zoetis by 1.9% in the 3rd quarter. SFE Investment Counsel now owns 27,461 shares of the company’s stock valued at $5,365,000 after acquiring an additional 514 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in Zoetis by 6.0% in the 3rd quarter. Pallas Capital Advisors LLC now owns 7,934 shares of the company’s stock valued at $1,440,000 after buying an additional 451 shares during the last quarter. First American Bank increased its stake in shares of Zoetis by 0.6% in the 3rd quarter. First American Bank now owns 16,486 shares of the company’s stock valued at $3,221,000 after buying an additional 94 shares during the period. Kavar Capital Partners Group LLC bought a new stake in shares of Zoetis during the third quarter worth $1,074,000. Finally, Clear Harbor Asset Management LLC boosted its holdings in Zoetis by 2.0% in the third quarter. Clear Harbor Asset Management LLC now owns 26,329 shares of the company’s stock valued at $5,144,000 after acquiring an additional 513 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ZTS shares. Piper Sandler boosted their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. BTIG Research boosted 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 note on Friday, August 9th. Stifel Nicolaus increased their target price on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $221.44.

Read Our Latest Report on Zoetis

Zoetis Stock Performance

ZTS opened at $182.76 on Tuesday. The firm has a market capitalization of $82.80 billion, a PE ratio of 35.77, a PEG ratio of 2.79 and a beta of 0.89. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The business’s 50-day simple moving average is $189.07 and its 200 day simple moving average is $178.03. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45.

Zoetis (NYSE:ZTS – Get Free Report) 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. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the business earned $1.41 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders 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 annualized dividend and a dividend yield of 0.95%. Zoetis’s dividend payout ratio is presently 33.86%.

Zoetis Company Profile

(Free Report)

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.

Further Reading

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