Global Retirement Partners LLC Decreases Stock Position in Zoetis Inc. (NYSE:ZTS)

Global Retirement Partners LLC reduced its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 17.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,174 shares of the company’s stock after selling 690 shares during the quarter. Global Retirement Partners LLC’s holdings in Zoetis were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZTS. Walter Public Investments Inc. raised its holdings in shares of Zoetis by 42.7% in the third quarter. Walter Public Investments Inc. now owns 84,265 shares of the company’s stock worth $16,464,000 after acquiring an additional 25,203 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in Zoetis by 18.8% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 8,821 shares of the company’s stock valued at $1,723,000 after purchasing an additional 1,393 shares during the last quarter. LaFleur & Godfrey LLC lifted its holdings in Zoetis by 1.5% in the 3rd quarter. LaFleur & Godfrey LLC now owns 36,109 shares of the company’s stock valued at $7,055,000 after purchasing an additional 520 shares in the last quarter. Regent Peak Wealth Advisors LLC boosted its stake in shares of Zoetis by 6.3% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 1,254 shares of the company’s stock worth $245,000 after purchasing an additional 74 shares during the last quarter. Finally, Sumitomo Life Insurance Co. boosted its stake in shares of Zoetis by 138.3% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 36,838 shares of the company’s stock worth $7,197,000 after purchasing an additional 21,377 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analyst Ratings Changes

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

Zoetis Stock Up 1.2 %

ZTS opened at $193.28 on Monday. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The firm has a 50 day moving average price of $188.98 and a 200 day moving average price of $177.17. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The company has a market cap of $87.57 billion, a PE ratio of 37.82, a price-to-earnings-growth ratio of 3.00 and a beta of 0.89.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $2.31 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts expect that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.89%. Zoetis’s payout ratio is currently 33.86%.

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.