RBO & Co. LLC Decreases Stake in Zoetis Inc. (NYSE:ZTS)

RBO & Co. LLC decreased its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 0.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 89,818 shares of the company’s stock after selling 225 shares during the quarter. Zoetis comprises about 2.8% of RBO & Co. LLC’s holdings, making the stock its 16th biggest position. RBO & Co. LLC’s holdings in Zoetis were worth $17,549,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Mizuho Securities USA LLC boosted its stake in Zoetis by 13,726.9% during the third quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock worth $950,524,000 after buying an additional 4,829,815 shares during the last quarter. Sarasin & Partners LLP boosted its position in shares of Zoetis by 546.3% during the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after acquiring an additional 1,904,899 shares during the last quarter. Swedbank AB purchased a new stake in shares of Zoetis in the first quarter valued at about $210,815,000. International Assets Investment Management LLC increased its position in Zoetis by 41,235.7% during the third quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock worth $183,652,000 after purchasing an additional 937,700 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Zoetis by 7,608.6% during the second quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock worth $144,874,000 after purchasing an additional 824,843 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Trading Down 1.7 %

NYSE ZTS opened at $175.70 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The firm has a market cap of $79.27 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 2.74 and a beta of 0.90. The firm has a 50 day simple moving average of $184.91 and a 200-day simple moving average of $180.84. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.46 by $0.12. The business had revenue of $2.40 billion during 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%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Equities research analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business 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 $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is presently 32.52%.

Wall Street Analyst Weigh In

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