Zoetis Inc. (NYSE:ZTS) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG trimmed its holdings in Zoetis Inc. (NYSE:ZTS) by 4.3% during the third quarter, Holdings Channel reports. The institutional investor owned 398,060 shares of the company’s stock after selling 17,700 shares during the period. Zoetis makes up 1.8% of Bank Pictet & Cie Europe AG’s portfolio, making the stock its 15th biggest holding. Bank Pictet & Cie Europe AG’s holdings in Zoetis were worth $77,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Zoetis by 1.0% in the first quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock valued at $6,895,235,000 after purchasing an additional 414,605 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Zoetis by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock valued at $812,695,000 after purchasing an additional 178,303 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Zoetis by 2.3% during the 1st quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock valued at $685,416,000 after buying an additional 90,330 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Zoetis by 5.8% during the 2nd 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 during the last quarter. Finally, Sarasin & Partners LLP raised its position in shares of Zoetis by 546.3% in the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after buying an additional 1,904,899 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 0.0 %

ZTS opened at $189.52 on Wednesday. The firm’s 50 day moving average is $189.11 and its 200-day moving average is $177.50. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. 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 capitalization of $86.48 billion, a P/E ratio of 36.52, a P/E/G ratio of 3.00 and a beta of 0.89.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.31 billion. During the same period last year, the business earned $1.41 EPS. The business’s revenue was up 8.3% on a year-over-year basis. Analysts expect that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is 33.14%.

Wall Street Analysts Forecast Growth

ZTS has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler boosted their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. BTIG Research raised their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $221.44.

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.