Pinnacle Financial Partners Inc Increases Stock Position in Zoetis Inc. (NYSE:ZTS)

Pinnacle Financial Partners Inc raised its position in Zoetis Inc. (NYSE:ZTS) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,865 shares of the company’s stock after acquiring an additional 2,264 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Zoetis were worth $8,961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Personal Financial Services purchased a new position in Zoetis during the 3rd quarter valued at about $33,000. Capital Performance Advisors LLP purchased a new position in shares of Zoetis during the third quarter valued at approximately $33,000. Quarry LP raised its holdings in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after acquiring an additional 153 shares in the last quarter. LRI Investments LLC purchased a new stake in Zoetis in the first quarter worth $43,000. Finally, Fortitude Family Office LLC boosted its holdings in Zoetis by 1,387.5% in the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after acquiring an additional 222 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Zoetis Trading Up 1.9 %

Zoetis stock opened at $177.28 on Thursday. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a market capitalization of $79.98 billion, a price-to-earnings ratio of 33.32, a price-to-earnings-growth ratio of 2.67 and a beta of 0.90. The business’s fifty day simple moving average is $187.81 and its two-hundred day simple moving average is $180.04. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.46 by $0.12. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. Zoetis’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 EPS. As a group, equities analysts predict that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently disclosed 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 is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.97%. Zoetis’s payout ratio is 32.52%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ZTS shares. Piper Sandler upped their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Stifel Nicolaus lifted their price objective on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. 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. Finally, BTIG Research lifted their price target on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.