Toronto Dominion Bank Increases Position in Zoetis Inc. (NYSE:ZTS)

Toronto Dominion Bank grew its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 18.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 233,486 shares of the company's stock after purchasing an additional 37,013 shares during the quarter. Toronto Dominion Bank owned 0.05% of Zoetis worth $45,618,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Asset Dedication LLC boosted its holdings in shares of Zoetis by 4.8% in the second quarter. Asset Dedication LLC now owns 1,174 shares of the company's stock worth $204,000 after buying an additional 54 shares during the period. Cherry Creek Investment Advisors Inc. raised its stake in shares of Zoetis by 2.0% in the 3rd 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 in the last quarter. L. Roy Papp & Associates LLP lifted its holdings in Zoetis by 2.8% in the 2nd quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company's stock worth $385,000 after purchasing an additional 60 shares during the last quarter. Grove Bank & Trust grew its holdings in Zoetis by 0.5% during the third quarter. Grove Bank & Trust now owns 11,763 shares of the company's stock valued at $2,298,000 after purchasing an additional 61 shares during the last quarter. Finally, Hancock Whitney Corp grew its holdings in Zoetis by 0.3% during the third quarter. Hancock Whitney Corp now owns 18,569 shares of the company's stock valued at $3,628,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

Zoetis Price Performance

Shares of ZTS traded up $1.67 during midday trading on Thursday, hitting $178.84. 1,858,055 shares of the company 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. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The firm has a market cap of $80.69 billion, a P/E ratio of 33.30, a PEG ratio of 2.89 and a beta of 0.89.

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 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 company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the firm earned $1.36 earnings per share. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, sell-side analysts predict that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.12%. This is a positive change from Zoetis's previous quarterly dividend of $0.43. Zoetis's payout ratio is presently 32.52%.

Wall Street Analyst Weigh In

ZTS has been the subject of a number of recent analyst reports. Leerink Partners assumed coverage on shares of Zoetis in a report on Monday, December 2nd. They set an "outperform" rating and a $215.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Zoetis from $225.00 to $230.00 and gave the company an "overweight" rating in a report on Friday, October 11th. UBS Group assumed coverage on Zoetis in a research report on Monday. They issued a "neutral" rating and a $196.00 price objective on the stock. Stifel Nicolaus raised their target price on shares of Zoetis from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Finally, Piper Sandler raised their target price 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. One investment 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 stock has a consensus rating of "Buy" and a consensus target price of $216.70.

Zoetis 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.