Townsquare Capital LLC Sells 6,871 Shares of Zoetis Inc. (NYSE:ZTS)

Townsquare Capital LLC lowered its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 4.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 165,580 shares of the company's stock after selling 6,871 shares during the quarter. Townsquare Capital LLC's holdings in Zoetis were worth $32,351,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Cetera Investment Advisers grew its position in Zoetis by 275.2% in the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company's stock worth $16,259,000 after purchasing an additional 70,476 shares during the last quarter. Simplify Asset Management Inc. bought a new stake in shares of Zoetis in the 3rd quarter worth approximately $11,684,000. Soltis Investment Advisors LLC acquired a new stake in shares of Zoetis during the 1st quarter worth approximately $688,000. Bank Pictet & Cie Asia Ltd. raised its stake in shares of Zoetis by 41.0% in the second quarter. Bank Pictet & Cie Asia Ltd. now owns 37,500 shares of the company's stock valued at $6,501,000 after purchasing an additional 10,900 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of Zoetis by 56.2% in the second quarter. Swedbank AB now owns 1,946,277 shares of the company's stock valued at $337,407,000 after purchasing an additional 700,398 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZTS has been the subject of a number of recent research reports. Piper Sandler increased their price objective 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. BTIG Research boosted their target price on Zoetis from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, August 12th. 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 report on Wednesday, September 18th. JPMorgan Chase & Co. upped their target price on shares of Zoetis from $225.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Finally, Argus upgraded Zoetis to a "strong-buy" rating in a report on Friday, August 9th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $221.44.

Zoetis Stock Performance

Shares of ZTS stock traded up $2.20 on Wednesday, reaching $177.90. The stock had a trading volume of 712,474 shares, compared to its average volume of 2,542,974. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The firm's 50-day moving average is $184.91 and its two-hundred day moving average is $180.84. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $80.26 billion, a price-to-earnings ratio of 33.03, a P/E/G ratio of 2.74 and a beta of 0.90.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings results 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. 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 last year, the company posted $1.36 EPS. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts expect that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be given a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.97%. Zoetis's dividend payout ratio (DPR) is currently 32.52%.

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.