BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 11,565 Shares of Zoetis Inc. (NYSE:ZTS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 13.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,137 shares of the company's stock after selling 11,565 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Zoetis were worth $14,876,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Edgestream Partners L.P. bought a new position in shares of Zoetis during the 3rd quarter worth about $2,078,000. Kolinsky Wealth Management LLC acquired a new stake in Zoetis during the third quarter worth $203,000. Ironwood Investment Counsel LLC increased its holdings in Zoetis by 1.8% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 5,736 shares of the company's stock valued at $1,121,000 after buying an additional 100 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Zoetis by 5.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,051 shares of the company's stock valued at $401,000 after buying an additional 100 shares in the last quarter. Finally, PDT Partners LLC lifted its holdings in shares of Zoetis by 61.0% during the 3rd quarter. PDT Partners LLC now owns 17,061 shares of the company's stock worth $3,333,000 after acquiring an additional 6,461 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Price Performance

Shares of ZTS traded down $1.49 during mid-day trading on Friday, hitting $175.25. 1,543,442 shares of the company traded hands, compared to its average volume of 2,880,750. 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 business has a 50-day moving average of $183.83 and a 200 day moving average of $180.97. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The stock has a market capitalization of $79.07 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 2.69 and a beta of 0.90.

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

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.99%. Zoetis's payout ratio is presently 32.33%.

Analyst Ratings Changes

Several research analysts recently issued reports on ZTS shares. JPMorgan Chase & Co. increased their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Stifel Nicolaus increased 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. Piper Sandler boosted their price target on Zoetis from $195.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. BTIG Research upped 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. Finally, Argus raised Zoetis to a "strong-buy" rating in a report on Friday, August 9th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Zoetis currently has an average rating of "Buy" and a consensus 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.