Townsend Asset Management Corp NC ADV Decreases Position in Zoetis Inc. (NYSE:ZTS)

Townsend Asset Management Corp NC ADV lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,716 shares of the company’s stock after selling 301 shares during the quarter. Zoetis comprises approximately 1.7% of Townsend Asset Management Corp NC ADV’s portfolio, making the stock its 13th biggest position. Townsend Asset Management Corp NC ADV’s holdings in Zoetis were worth $4,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. RFG Advisory LLC acquired a new stake in Zoetis during the 1st quarter worth about $307,000. International Assets Investment Management LLC boosted its holdings in shares of Zoetis by 13.2% during the 1st quarter. International Assets Investment Management LLC now owns 2,749 shares of the company’s stock worth $459,000 after purchasing an additional 320 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Zoetis during the 1st quarter worth approximately $8,831,000. Riverview Trust Co acquired a new position in shares of Zoetis during the 1st quarter worth approximately $119,000. Finally, Sarasin & Partners LLP boosted its holdings in shares of Zoetis by 69.1% during the 1st quarter. Sarasin & Partners LLP now owns 348,691 shares of the company’s stock worth $59,002,000 after purchasing an additional 142,496 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 2.0 %

NYSE:ZTS opened at $189.45 on Tuesday. 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 stock’s fifty day moving average is $189.09 and its two-hundred day moving average is $177.34. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The stock has a market capitalization of $86.45 billion, a price-to-earnings ratio of 36.50, a price-to-earnings-growth 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 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. 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 (DPR) is 33.14%.

Analyst Upgrades and Downgrades

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