Zoetis Inc. (NYSE:ZTS) Shares Sold by CNB Bank

CNB Bank lowered its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 7.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,285 shares of the company’s stock after selling 596 shares during the quarter. CNB Bank’s holdings in Zoetis were worth $1,423,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ZTS. Sarasin & Partners LLP boosted its holdings in shares of Zoetis by 546.3% during the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after purchasing an additional 1,904,899 shares during the last quarter. Swedbank AB purchased a new stake in Zoetis in the 1st quarter valued at $210,815,000. Marshall Wace LLP increased its stake in shares of Zoetis by 7,608.6% in the 2nd quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock worth $144,874,000 after acquiring an additional 824,843 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Zoetis by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock worth $6,895,235,000 after acquiring an additional 414,605 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Zoetis by 178.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 639,352 shares of the company’s stock valued at $108,185,000 after acquiring an additional 409,522 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Performance

NYSE:ZTS opened at $193.28 on Friday. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a fifty day simple moving average of $188.98 and a two-hundred day simple moving average of $177.07. 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 company has a market cap of $87.57 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 3.00 and a beta of 0.89.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. Zoetis’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 EPS. As a group, equities analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.89%. Zoetis’s dividend payout ratio (DPR) is 33.86%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Piper Sandler raised their price objective 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. BTIG Research lifted their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Stifel Nicolaus lifted their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. increased their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report 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 stock. According to data from MarketBeat.com, the stock 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.