Cary Street Partners Asset Management LLC Buys 445 Shares of Zoetis Inc. (NYSE:ZTS)

Cary Street Partners Asset Management LLC grew its stake in Zoetis Inc. (NYSE:ZTS) by 7.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,409 shares of the company’s stock after buying an additional 445 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Zoetis were worth $1,252,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Quarry LP boosted 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 period. Fortitude Family Office LLC boosted its holdings in shares of Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after buying an additional 222 shares during the period. LRI Investments LLC acquired a new position in Zoetis in the 1st quarter valued at $43,000. Central Valley Advisors LLC bought a new position in Zoetis in the 2nd quarter worth $49,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Zoetis during the 3rd quarter worth $59,000. Institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus raised their price target on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. BTIG Research increased their target price on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. lifted their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Piper Sandler increased their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $221.44.

Zoetis Stock Down 3.7 %

ZTS opened at $175.18 on Tuesday. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The firm has a market cap of $79.37 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 2.82 and a beta of 0.90. The firm’s 50-day simple moving average is $188.84 and its 200-day simple moving average is $179.03. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.07. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $1.41 earnings per share. Equities research analysts anticipate that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 33.86%.

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.