Beese Fulmer Investment Management Inc. Trims Position in Zoetis Inc. (NYSE:ZTS)

Beese Fulmer Investment Management Inc. lowered its holdings in Zoetis Inc. (NYSE:ZTS) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,191 shares of the company’s stock after selling 200 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Zoetis were worth $819,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ZTS. Webster Bank N. A. increased its stake in shares of Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the last quarter. Quarry LP increased its position in Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after purchasing an additional 153 shares during the last quarter. LRI Investments LLC purchased a new position in Zoetis during the first quarter worth approximately $43,000. Central Valley Advisors LLC acquired a new position in shares of Zoetis in the 2nd quarter valued at $49,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Zoetis during the 1st quarter valued at $51,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. BTIG Research lifted their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Piper Sandler increased their target price 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. Stifel Nicolaus raised their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Argus upgraded shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $221.44.

Zoetis Trading Down 0.3 %

ZTS opened at $188.99 on Thursday. The firm has a market capitalization of $85.62 billion, a P/E ratio of 36.98, a P/E/G ratio of 2.94 and a beta of 0.89. The firm’s 50 day moving average is $189.23 and its 200-day moving average is $177.58. 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 Inc. has a 52-week low of $144.80 and a 52-week high of $201.92.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.41 EPS. 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 issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 33.86%.

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.