Stock Yards Bank & Trust Co. Lowers Stake in Zoetis Inc. (NYSE:ZTS)

Stock Yards Bank & Trust Co. trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 10.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,028 shares of the company's stock after selling 10,684 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in Zoetis were worth $17,394,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Darwin Wealth Management LLC bought a new position in shares of Zoetis in the third quarter worth approximately $31,000. First Personal Financial Services purchased a new position in Zoetis in the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP bought a new position in shares of Zoetis in the 3rd quarter worth $33,000. Dunhill Financial LLC lifted its holdings in shares of Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company's stock worth $33,000 after acquiring an additional 75 shares during the last quarter. Finally, Quarry LP grew its position in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company's stock worth $36,000 after acquiring an additional 153 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Leerink Partnrs raised Zoetis to a "strong-buy" rating in a report on Monday, December 2nd. JPMorgan Chase & Co. upped their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Piper Sandler lifted their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. Stifel Nicolaus upped their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Finally, Leerink Partners started coverage on Zoetis in a report on Monday, December 2nd. They issued an "outperform" rating and a $215.00 price objective on the stock. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $216.70.

Zoetis Trading Up 0.9 %

Shares of Zoetis stock traded up $1.67 during midday trading on Thursday, reaching $178.84. 1,936,016 shares of the company's stock traded hands, compared to its average volume of 2,535,838. The stock has a 50 day moving average of $181.06 and a 200-day moving average of $181.14. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a market cap of $80.69 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 2.89 and a beta of 0.89. 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 posted its earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.29 billion. During the same period last year, the company posted $1.36 EPS. The company's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts expect that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.12%. This is a boost from Zoetis's previous quarterly dividend of $0.43. 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.