Park National Corp OH Cuts Stock Position in Zoetis Inc. (NYSE:ZTS)

Park National Corp OH lessened its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,136 shares of the company's stock after selling 4,281 shares during the period. Park National Corp OH's holdings in Zoetis were worth $14,034,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in Zoetis in the 3rd quarter worth approximately $31,000. First Personal Financial Services bought a new stake in Zoetis during the third quarter valued at $33,000. Capital Performance Advisors LLP purchased a new position in Zoetis during the third quarter worth about $33,000. Dunhill Financial LLC grew its position in Zoetis by 80.6% during the third quarter. Dunhill Financial LLC now owns 168 shares of the company's stock worth $33,000 after buying an additional 75 shares in the last quarter. Finally, Quarry LP increased its stake in Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company's stock worth $36,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Price Performance

NYSE:ZTS traded up $1.44 during trading hours on Wednesday, reaching $164.93. The stock had a trading volume of 2,353,159 shares, compared to its average volume of 2,344,292. The company has a 50 day moving average price of $172.36 and a two-hundred day moving average price of $180.31. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $200.53. The stock has a market capitalization of $74.41 billion, a PE ratio of 31.00, a PEG ratio of 2.91 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 announced 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. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The firm had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.29 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The company's quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.21%. This is a positive change from Zoetis's previous quarterly dividend of $0.43. Zoetis's payout ratio is currently 37.59%.

Wall Street Analysts Forecast Growth

ZTS has been the topic of several research analyst reports. Leerink Partners started coverage on shares of Zoetis in a research report on Monday, December 2nd. They issued an "outperform" rating and a $215.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. UBS Group initiated coverage on shares of Zoetis in a report on Monday, December 9th. They set a "neutral" rating and a $196.00 price objective for the company. Stifel Nicolaus reduced their target price on Zoetis from $210.00 to $180.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Leerink Partnrs raised Zoetis to a "strong-buy" rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $211.89.

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.