Citigroup Inc. Cuts Stock Position in Zoetis Inc. (NYSE:ZTS)

Citigroup Inc. decreased its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 10.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 535,814 shares of the company's stock after selling 61,892 shares during the period. Citigroup Inc. owned about 0.12% of Zoetis worth $104,687,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZTS. Darwin Wealth Management LLC purchased a new stake in shares of Zoetis in the 3rd quarter worth approximately $31,000. First Personal Financial Services purchased a new stake in shares of Zoetis in the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new stake in shares of Zoetis in the 3rd quarter worth approximately $33,000. Quarry LP grew its stake in shares of Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company's stock worth $36,000 after buying an additional 153 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Zoetis in the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 92.80% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ZTS. JPMorgan Chase & Co. upped their price target on Zoetis from $225.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. BTIG Research upped their price objective on Zoetis from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, August 12th. Argus raised Zoetis to a "strong-buy" rating in a research report on Friday, August 9th. Piper Sandler upped 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, Stifel Nicolaus upped their price objective on Zoetis from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $221.44.

Zoetis Stock Performance

Shares of NYSE ZTS traded up $0.25 during midday trading on Friday, hitting $176.96. 1,854,574 shares of the stock traded hands, compared to its average volume of 2,832,691. The firm has a 50-day moving average of $185.62 and a two-hundred day moving average of $180.61. The firm has a market capitalization of $79.84 billion, a P/E ratio of 33.26, a PEG ratio of 2.71 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92.

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

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. Zoetis's dividend payout ratio is currently 32.52%.

Zoetis Company Profile

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.