Fmr LLC Cuts Holdings in Zoetis Inc. (NYSE:ZTS)

FMR LLC cut its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,344,239 shares of the company's stock after selling 231,939 shares during the quarter. FMR LLC owned approximately 0.96% of Zoetis worth $848,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Darwin Wealth Management LLC purchased a new stake in shares of Zoetis in the 3rd quarter valued at $31,000. First Personal Financial Services purchased a new stake in Zoetis during the third quarter valued at about $33,000. Capital Performance Advisors LLP bought a new position in shares of Zoetis during the third quarter valued at about $33,000. Quarry LP increased its holdings in shares of Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company's stock worth $36,000 after buying an additional 153 shares during the period. Finally, Fortitude Family Office LLC lifted its stake in shares of Zoetis by 1,387.5% in the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company's stock valued at $46,000 after acquiring an additional 222 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Zoetis Stock Up 0.6 %

Shares of NYSE ZTS traded up $1.04 during mid-day trading on Thursday, hitting $176.74. 2,315,768 shares of the stock traded hands, compared to its average volume of 2,968,865. The company has a market cap of $79.74 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 2.70 and a beta of 0.90. The stock has a fifty day moving average price of $184.18 and a 200-day moving average price of $180.78. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. 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 (NYSE:ZTS - Get Free Report) last announced its earnings results 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 net margin of 26.55% and a return on equity of 51.98%. The firm had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.29 billion. During the same quarter in the previous year, the business posted $1.36 EPS. The company's quarterly revenue was up 11.6% on a year-over-year basis. Research analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a $0.432 dividend. 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 32.52%.

Wall Street Analysts Forecast Growth

ZTS has been the subject of several recent research reports. Argus upgraded Zoetis to a "strong-buy" rating in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price target 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. Piper Sandler upped their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. Stifel Nicolaus raised their target price on Zoetis from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Finally, BTIG Research boosted their price target on Zoetis from $220.00 to $225.00 and gave the company a "buy" rating in a report on Monday, August 12th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zoetis currently has an average rating of "Buy" and a consensus price target of $221.44.

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.