Harvest Portfolios Group Inc. Trims Position in Zoetis Inc. (NYSE:ZTS)

Harvest Portfolios Group Inc. lessened its stake in Zoetis Inc. (NYSE:ZTS) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 306,100 shares of the company’s stock after selling 31,617 shares during the period. Zoetis accounts for about 2.0% of Harvest Portfolios Group Inc.’s holdings, making the stock its 11th biggest position. Harvest Portfolios Group Inc.’s holdings in Zoetis were worth $59,806,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Callahan Advisors LLC boosted its position in Zoetis by 4.7% during the third quarter. Callahan Advisors LLC now owns 6,884 shares of the company’s stock worth $1,345,000 after purchasing an additional 306 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in Zoetis by 5.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 2,322 shares of the company’s stock valued at $454,000 after purchasing an additional 111 shares in the last quarter. Crestwood Advisors Group LLC boosted its position in Zoetis by 0.3% during the third quarter. Crestwood Advisors Group LLC now owns 222,338 shares of the company’s stock worth $43,440,000 after acquiring an additional 693 shares during the last quarter. Pittenger & Anderson Inc. lifted its stake in shares of Zoetis by 1.7% during the 3rd quarter. Pittenger & Anderson Inc. now owns 125,564 shares of the company’s stock worth $24,533,000 after purchasing an additional 2,061 shares during the period. Finally, United Advisor Group LLC grew its position in shares of Zoetis by 13.1% in the third quarter. United Advisor Group LLC now owns 4,471 shares of the company’s stock valued at $874,000 after purchasing an additional 519 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Up 0.6 %

Shares of Zoetis stock opened at $176.30 on Wednesday. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The stock has a market cap of $79.87 billion, a price-to-earnings ratio of 32.95, a price-to-earnings-growth ratio of 2.68 and a beta of 0.90. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average price of $188.71 and a 200 day moving average price of $179.23.

Zoetis (NYSE:ZTS) last issued its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.12. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. Zoetis had a return on equity of 52.59% and a net margin of 26.55%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 earnings per share. Equities research analysts forecast that Zoetis Inc. will post 5.91 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be paid 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 dividend yield of 0.98%. Zoetis’s dividend payout ratio is currently 32.52%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ZTS shares. 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 boosted their target price on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Piper Sandler increased their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus boosted their price objective on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Zoetis has an average rating of “Buy” and an average target price 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.