Daymark Wealth Partners LLC Trims Stake in Zoetis Inc. (NYSE:ZTS)

Daymark Wealth Partners LLC lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,034 shares of the company’s stock after selling 273 shares during the period. Daymark Wealth Partners LLC’s holdings in Zoetis were worth $1,472,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ZTS. Cherry Creek Investment Advisors Inc. boosted its position in Zoetis by 2.0% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock valued at $590,000 after buying an additional 58 shares during the period. Grove Bank & Trust grew its stake in Zoetis by 0.5% in the third quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock worth $2,298,000 after purchasing an additional 61 shares in the last quarter. Hancock Whitney Corp grew its holdings in Zoetis by 0.3% during the 3rd quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock worth $3,628,000 after acquiring an additional 61 shares in the last quarter. Strategy Asset Managers LLC increased its holdings in Zoetis by 3.5% during the third quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company’s stock valued at $356,000 after buying an additional 62 shares during the period. Finally, Procyon Advisors LLC boosted its position in Zoetis by 1.4% during the fourth quarter. Procyon Advisors LLC now owns 4,712 shares of the company’s stock valued at $768,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ZTS. UBS Group assumed coverage on Zoetis in a research report on Monday, December 9th. They set a “neutral” rating and a $196.00 target price on the stock. Stifel Nicolaus reduced their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Leerink Partners assumed coverage on shares of Zoetis in a research note on Monday, December 2nd. They set an “outperform” rating and a $215.00 target price for the company. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. upped their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and a consensus price target of $211.89.

Zoetis Price Performance

ZTS opened at $166.64 on Thursday. The firm has a market cap of $75.18 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 2.58 and a beta of 0.89. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The stock’s 50-day moving average price is $170.60 and its 200 day moving average price is $179.89. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.53.

Zoetis (NYSE:ZTS) last posted 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. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the firm posted $1.36 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Zoetis’s previous quarterly dividend of $0.43. Zoetis’s dividend payout ratio is currently 37.59%.

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.