First Horizon Advisors Inc. Sells 7,987 Shares of Zoetis Inc. (NYSE:ZTS)

First Horizon Advisors Inc. cut its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 17.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 38,106 shares of the company's stock after selling 7,987 shares during the quarter. First Horizon Advisors Inc.'s holdings in Zoetis were worth $7,445,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Mizuho Securities USA LLC grew its position in Zoetis by 13,726.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company's stock worth $950,524,000 after acquiring an additional 4,829,815 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Zoetis by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company's stock worth $812,695,000 after purchasing an additional 178,303 shares during the last quarter. Capital Research Global Investors increased its holdings in Zoetis by 2.3% in the first quarter. Capital Research Global Investors now owns 4,050,681 shares of the company's stock valued at $685,416,000 after purchasing an additional 90,330 shares during the period. Clearbridge Investments LLC lifted its position in Zoetis by 5.8% in the 2nd quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company's stock valued at $527,774,000 after acquiring an additional 166,517 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Zoetis by 17.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company's stock valued at $464,497,000 after buying an additional 351,372 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZTS has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Argus upgraded shares of Zoetis to a "strong-buy" rating in a report on Friday, August 9th. Stifel Nicolaus increased their price objective on Zoetis from $200.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. BTIG Research increased their price target on Zoetis from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, August 12th. Finally, Piper Sandler raised their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. 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 MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $221.44.

Zoetis Trading Down 0.1 %

Zoetis stock traded down $0.11 during midday trading on Thursday, hitting $175.56. 286,479 shares of the stock were exchanged, compared to its average volume of 2,537,708. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $79.21 billion, a PE ratio of 33.02, a P/E/G ratio of 2.69 and a beta of 0.90. The company has a fifty day simple moving average of $186.18 and a two-hundred day simple moving average of $180.47. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.12. The company had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. Zoetis's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.36 earnings per share. Equities research analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders 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 yield of 0.98%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis's dividend payout ratio (DPR) is presently 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.