Zoetis Inc. (NYSE:ZTS) Position Increased by Bank of Marin

Bank of Marin boosted its stake in shares of Zoetis Inc. (NYSE:ZTS) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,742 shares of the company’s stock after purchasing an additional 82 shares during the quarter. Bank of Marin’s holdings in Zoetis were worth $926,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ZTS. Sarasin & Partners LLP lifted its position in Zoetis by 546.3% in the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after purchasing an additional 1,904,899 shares during the last quarter. Swedbank AB bought a new stake in shares of Zoetis during the first quarter valued at approximately $210,815,000. International Assets Investment Management LLC raised its holdings in shares of Zoetis by 41,235.7% during the third quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock valued at $183,652,000 after buying an additional 937,700 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Zoetis by 7,608.6% during the second quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock worth $144,874,000 after buying an additional 824,843 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Zoetis by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock worth $6,895,235,000 after buying an additional 414,605 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Zoetis Price Performance

Shares of NYSE ZTS traded down $2.00 during trading on Friday, hitting $172.63. The company had a trading volume of 254,266 shares, compared to its average volume of 2,533,761. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The business’s 50-day moving average is $187.37 and its 200 day moving average is $179.98. The company has a market cap of $77.89 billion, a P/E ratio of 32.34, a PEG ratio of 2.72 and a beta of 0.90. 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) last announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share (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 company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the firm earned $1.36 earnings per share. Zoetis’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts predict that Zoetis Inc. will post 5.9 earnings per share 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 issued a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.00%. Zoetis’s dividend payout ratio is currently 32.52%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research upped their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus raised their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. upped their price target 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, Piper Sandler raised 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. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zoetis has an average rating of “Buy” and an average target price of $221.44.

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.