Maple Capital Management Inc. Buys 1,253 Shares of Zoetis Inc. (NYSE:ZTS)

Maple Capital Management Inc. raised its stake in shares of Zoetis Inc. (NYSE:ZTS) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 85,061 shares of the company’s stock after purchasing an additional 1,253 shares during the period. Zoetis accounts for approximately 1.3% of Maple Capital Management Inc.’s investment portfolio, making the stock its 28th biggest position. Maple Capital Management Inc.’s holdings in Zoetis were worth $16,619,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Asset Dedication LLC raised its position in shares of Zoetis by 4.8% in the 2nd quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock worth $204,000 after acquiring an additional 54 shares in the last quarter. Forza Wealth Management LLC grew its stake in shares of Zoetis by 1.8% in the 2nd quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock valued at $574,000 after buying an additional 58 shares during the period. L. Roy Papp & Associates LLP grew its stake in shares of Zoetis by 2.8% in the 2nd quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock valued at $385,000 after buying an additional 60 shares during the period. Grove Bank & Trust grew its stake in shares of Zoetis by 0.5% in the 3rd quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock valued at $2,298,000 after buying an additional 61 shares during the period. Finally, Angeles Wealth Management LLC grew its stake in shares of Zoetis by 3.8% in the 1st quarter. Angeles Wealth Management LLC now owns 1,702 shares of the company’s stock valued at $288,000 after buying an additional 62 shares during the period. 92.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ZTS shares. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. BTIG Research raised 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. raised 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. Stifel Nicolaus lifted their price target on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Piper Sandler lifted 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. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $221.44.

Zoetis Price Performance

Shares of NYSE ZTS opened at $189.45 on Tuesday. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The stock’s 50 day moving average price is $189.09 and its 200-day moving average price is $177.34. The company has a market capitalization of $86.45 billion, a PE ratio of 36.50, a PEG ratio of 3.00 and a beta of 0.89. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last announced 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. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the business earned $1.41 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Announces Dividend

The firm 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 of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.91%. Zoetis’s payout ratio is 33.14%.

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.