Townsend Asset Management Corp NC ADV Decreases Stake in Zoetis Inc. (NYSE:ZTS)

by · The Markets Daily

Townsend Asset Management Corp NC ADV reduced its position in Zoetis Inc. (NYSE:ZTS – Free Report) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,716 shares of the company’s stock after selling 301 shares during the period. Zoetis accounts for about 1.7% of Townsend Asset Management Corp NC ADV’s investment portfolio, making the stock its 13th biggest position. Townsend Asset Management Corp NC ADV’s holdings in Zoetis were worth $4,634,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Webster Bank N. A. increased its stake in Zoetis by 89.1% during the first 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 last quarter. Quarry LP grew its stake in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after buying an additional 153 shares during the last quarter. LRI Investments LLC bought a new position in shares of Zoetis during the first quarter valued at approximately $43,000. Central Valley Advisors LLC bought a new position in shares of Zoetis during the second quarter valued at approximately $49,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Zoetis during the first quarter valued at approximately $51,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Stock Down 2.0 %

Zoetis stock opened at $189.45 on Tuesday. The business has a fifty day moving average of $189.09 and a two-hundred day moving average of $177.34. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The firm has a market cap of $86.45 billion, a P/E ratio of 36.50, a P/E/G ratio of 3.00 and a beta of 0.89. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92.

Zoetis (NYSE:ZTS – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 earnings per share. On average, analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently commented on ZTS. BTIG Research upped their target price on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Piper Sandler upped their target price on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus upped their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Argus raised Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $221.44.

Read Our Latest Stock Analysis on Zoetis

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.

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