National Bank of Canada FI Raises Stock Position in Zoetis Inc. (NYSE:ZTS)

National Bank of Canada FI grew its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 23.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 429,649 shares of the company's stock after purchasing an additional 80,304 shares during the quarter. National Bank of Canada FI owned approximately 0.10% of Zoetis worth $83,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its stake in Zoetis by 0.5% during the third quarter. State Street Corp now owns 19,779,344 shares of the company's stock valued at $3,864,488,000 after buying an additional 95,856 shares during the last quarter. Mizuho Securities USA LLC increased its stake in Zoetis by 13,726.9% during the third 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 raised its position 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 valued at $812,695,000 after purchasing an additional 178,303 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Zoetis by 5.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,896,106 shares of the company's stock valued at $761,221,000 after acquiring an additional 194,542 shares during the period. Finally, Clearbridge Investments LLC grew its stake in shares of Zoetis by 5.8% during the second quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company's stock valued at $527,774,000 after buying an additional 166,517 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZTS has been the subject of several recent research reports. Piper Sandler lifted their price objective on Zoetis from $195.00 to $210.00 and gave the company an "overweight" rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. upped their target price on Zoetis from $225.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Leerink Partnrs raised Zoetis to a "strong-buy" rating in a research report on Monday, December 2nd. BTIG Research boosted 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, Leerink Partners assumed coverage on Zoetis in a research report on Monday, December 2nd. They set an "outperform" rating and a $215.00 price objective on the stock. Ten investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $219.00.

Zoetis Stock Up 1.0 %

NYSE ZTS traded up $1.69 during trading on Friday, hitting $176.46. The company's stock had a trading volume of 2,551,210 shares, compared to its average volume of 2,537,907. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a market cap of $79.61 billion, a PE ratio of 33.17, a P/E/G ratio of 2.88 and a beta of 0.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. The business's 50 day simple moving average is $182.07 and its 200-day simple moving average is $181.07.

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

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st were issued a dividend of $0.432 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. 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.