Brown Brothers Harriman & Co. Cuts Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Brown Brothers Harriman & Co. lessened its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,013,447 shares of the company's stock after selling 28,920 shares during the period. Zoetis accounts for about 2.7% of Brown Brothers Harriman & Co.'s portfolio, making the stock its 13th largest position. Brown Brothers Harriman & Co. owned 0.45% of Zoetis worth $393,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC bought a new position in shares of Zoetis during the third quarter valued at approximately $31,000. First Personal Financial Services purchased a new position in shares of Zoetis in the 3rd quarter valued at $33,000. Capital Performance Advisors LLP bought a new position in shares of Zoetis in the 3rd quarter worth $33,000. Quarry LP lifted its stake in shares of Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company's stock worth $36,000 after purchasing an additional 153 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in Zoetis during the first quarter valued at about $43,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on ZTS shares. Piper Sandler increased their price target on shares of Zoetis from $195.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Stifel Nicolaus raised their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Argus raised Zoetis to a "strong-buy" rating in a research report on Friday, August 9th. 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, JPMorgan Chase & Co. increased 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. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $221.44.

Zoetis Stock Performance

ZTS traded up $1.74 during midday trading on Monday, hitting $178.70. 4,558,329 shares of the company were exchanged, compared to its average volume of 2,551,175. The firm has a market capitalization of $80.62 billion, a price-to-earnings ratio of 33.49, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. The company's 50 day simple moving average is $185.62 and its 200 day simple moving average is $180.72. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.29 billion. During the same quarter last year, the company earned $1.36 EPS. The business's revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts predict that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis's payout ratio is 32.52%.

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.