JPMorgan Chase & Co. raised its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 10.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,916,539 shares of the company's stock after purchasing an additional 279,092 shares during the period. JPMorgan Chase & Co. owned 0.65% of Zoetis worth $569,834,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Asset Dedication LLC lifted its position in shares of Zoetis by 4.8% during the second quarter. Asset Dedication LLC now owns 1,174 shares of the company's stock valued at $204,000 after buying an additional 54 shares during the last quarter. Cherry Creek Investment Advisors Inc. lifted its position in Zoetis by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company's stock valued at $590,000 after acquiring an additional 58 shares during the last quarter. Grove Bank & Trust boosted its stake in Zoetis by 0.5% in the third quarter. Grove Bank & Trust now owns 11,763 shares of the company's stock valued at $2,298,000 after acquiring an additional 61 shares in the last quarter. Hancock Whitney Corp grew its holdings in Zoetis by 0.3% in the third quarter. Hancock Whitney Corp now owns 18,569 shares of the company's stock worth $3,628,000 after purchasing an additional 61 shares during the last quarter. Finally, Strategy Asset Managers LLC increased its position in shares of Zoetis by 3.5% during the third quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company's stock worth $356,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 92.80% of the company's stock.
Analyst Upgrades and Downgrades
ZTS has been the subject of a number of recent analyst reports. Leerink Partnrs raised Zoetis to a "strong-buy" rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. raised their price target on Zoetis from $225.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. UBS Group began coverage on Zoetis in a research note on Monday, December 9th. They set a "neutral" rating and a $196.00 price target on the stock. Leerink Partners initiated coverage on shares of Zoetis in a research report on Monday, December 2nd. They issued an "outperform" rating and a $215.00 price objective for the company. Finally, Stifel Nicolaus boosted their target price on shares of Zoetis from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $215.22.
Read Our Latest Report on Zoetis
Zoetis Stock Performance
NYSE ZTS traded down $0.92 on Friday, hitting $164.60. 1,800,135 shares of the company's stock traded hands, compared to its average volume of 2,541,197. The firm's 50-day moving average price is $175.72 and its two-hundred day moving average price is $180.75. The firm has a market capitalization of $74.26 billion, a PE ratio of 30.94, a P/E/G ratio of 2.91 and a beta of 0.89. 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 $200.53.
Zoetis (NYSE:ZTS - Get Free Report) last posted 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 the consensus estimate of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. As a group, analysts expect that Zoetis Inc. will post 5.9 EPS for the current year.
Zoetis Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.22%. This is a positive change from Zoetis's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, January 21st. Zoetis's dividend payout ratio (DPR) is 37.59%.
About Zoetis
(
Free Report)
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.
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