Allspring Global Investments Holdings LLC Has $10.88 Million Holdings in Zoetis Inc. (NYSE:ZTS)

Allspring Global Investments Holdings LLC grew its position in shares of Zoetis Inc. (NYSE:ZTS) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,696 shares of the company’s stock after purchasing an additional 4,107 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Zoetis were worth $10,882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sarasin & Partners LLP lifted its stake in Zoetis by 546.3% in the second quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after buying an additional 1,904,899 shares during the period. Swedbank AB bought a new stake in shares of Zoetis in the 1st quarter valued at $210,815,000. Marshall Wace LLP lifted its position in shares of Zoetis by 7,608.6% during the 2nd quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock valued at $144,874,000 after acquiring an additional 824,843 shares during the period. Vanguard Group Inc. boosted its stake in Zoetis by 1.0% during the first quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock worth $6,895,235,000 after acquiring an additional 414,605 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Zoetis by 178.2% in the first quarter. Canada Pension Plan Investment Board now owns 639,352 shares of the company’s stock worth $108,185,000 after purchasing an additional 409,522 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the topic of several research reports. BTIG Research upped their price objective on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Piper Sandler upped their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised their price objective on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus boosted their price objective on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis Trading Down 0.8 %

Shares of Zoetis stock opened at $180.01 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The stock has a fifty day simple moving average of $189.10 and a 200 day simple moving average of $177.71. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a market capitalization of $82.14 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 2.94 and a beta of 0.89.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is presently 33.14%.

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.