Zoetis Inc. (NYSE:ZTS) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 455,571 shares of the company's stock after selling 6,990 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Zoetis worth $89,009,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ZTS. Argus upgraded Zoetis to a "strong-buy" rating in a report on Friday, August 9th. Piper Sandler lifted their target price on shares of 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 price target on Zoetis from $225.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Stifel Nicolaus lifted their price objective on Zoetis from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Finally, BTIG Research increased their target price on Zoetis from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, August 12th. 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, Zoetis currently has a consensus rating of "Buy" and a consensus target price of $221.44.

Zoetis Stock Up 0.6 %

ZTS stock traded up $1.04 during mid-day trading on Thursday, reaching $176.74. The company had a trading volume of 2,315,768 shares, compared to its average volume of 2,968,865. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The firm has a fifty day simple moving average of $184.18 and a 200 day simple moving average of $180.78. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The company has a market capitalization of $79.74 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 2.70 and a beta of 0.90.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.12. The firm 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 company's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors 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 payout ratio is 32.52%.

About Zoetis

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.