Douglass Winthrop Advisors LLC Cuts Stake in Zoetis Inc. (NYSE:ZTS)

Douglass Winthrop Advisors LLC cut its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 478,959 shares of the company's stock after selling 10,674 shares during the quarter. Zoetis makes up approximately 1.8% of Douglass Winthrop Advisors LLC's holdings, making the stock its 25th biggest position. Douglass Winthrop Advisors LLC owned about 0.11% of Zoetis worth $93,579,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in Zoetis in the 3rd quarter worth approximately $31,000. First Personal Financial Services bought a new position in Zoetis in the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP bought a new position in Zoetis in the 3rd quarter worth approximately $33,000. Quarry LP boosted its stake in Zoetis by 273.2% in 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 period. Finally, LRI Investments LLC bought a new position in Zoetis in the 1st quarter worth approximately $43,000. 92.80% of the stock is currently owned by institutional investors.

Zoetis Trading Up 1.0 %

ZTS stock traded up $1.74 during midday trading on Monday, reaching $178.70. The company's stock had a trading volume of 4,558,329 shares, compared to its average volume of 2,551,175. 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 stock has a fifty day simple moving average of $185.31 and a two-hundred day simple moving average of $180.79. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The firm has a market capitalization of $80.62 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 2.71 and a beta of 0.90.

Zoetis (NYSE:ZTS - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping 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 business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the firm posted $1.36 earnings per share. The business's revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts predict that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Announces Dividend

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 paid a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.97%. Zoetis's payout ratio is 32.52%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. 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. Piper Sandler increased their target price on Zoetis from $195.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Stifel Nicolaus increased their target price 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 report on Monday, August 12th. Finally, Argus upgraded 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $221.44.

Zoetis 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.