Zoetis Inc. (NYSE:ZTS) Holdings Trimmed by M&T Bank Corp

M&T Bank Corp lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 10.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 297,635 shares of the company's stock after selling 36,434 shares during the quarter. M&T Bank Corp owned 0.07% of Zoetis worth $58,152,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Groupama Asset Managment increased its position in Zoetis by 4.5% during the 3rd quarter. Groupama Asset Managment now owns 24,595 shares of the company's stock worth $4,805,000 after purchasing an additional 1,048 shares in the last quarter. MML Investors Services LLC increased its position in Zoetis by 3.2% during the 3rd quarter. MML Investors Services LLC now owns 72,982 shares of the company's stock worth $14,259,000 after purchasing an additional 2,276 shares in the last quarter. First National Bank of Omaha increased its position in Zoetis by 6.2% during the 3rd quarter. First National Bank of Omaha now owns 56,660 shares of the company's stock worth $11,070,000 after purchasing an additional 3,287 shares in the last quarter. Dunhill Financial LLC increased its position in Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company's stock worth $33,000 after purchasing an additional 75 shares in the last quarter. Finally, Zacks Investment Management acquired a new stake in Zoetis during the 3rd quarter worth approximately $15,754,000. Institutional investors and hedge funds own 92.80% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ZTS. Stifel Nicolaus increased their target price on Zoetis from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Leerink Partnrs raised Zoetis to a "strong-buy" rating in a research report on Monday, December 2nd. UBS Group started coverage on Zoetis in a research report on Monday. They set a "neutral" rating and a $196.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Zoetis from $225.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Finally, Leerink Partners started coverage on Zoetis in a research report on Monday, December 2nd. They set an "outperform" rating and a $215.00 price target on the stock. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $216.70.

Zoetis Stock Performance

Shares of ZTS traded down $1.44 during trading hours on Tuesday, reaching $176.71. 1,646,209 shares of the company's stock traded hands, compared to its average volume of 2,541,524. The firm has a market capitalization of $79.73 billion, a price-to-earnings ratio of 33.22, 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. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The business's fifty day simple moving average is $181.72 and its two-hundred day simple moving average is $181.12.

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

Zoetis Announces Dividend

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