Diversified Trust Co Acquires 10,729 Shares of Zoetis Inc. (NYSE:ZTS)

Diversified Trust Co lifted its position in Zoetis Inc. (NYSE:ZTS) by 219.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,618 shares of the company’s stock after purchasing an additional 10,729 shares during the quarter. Diversified Trust Co’s holdings in Zoetis were worth $2,708,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank Pictet & Cie Asia Ltd. boosted its stake in shares of Zoetis by 41.0% during the second quarter. Bank Pictet & Cie Asia Ltd. now owns 37,500 shares of the company’s stock valued at $6,501,000 after purchasing an additional 10,900 shares in the last quarter. Cox Capital Mgt LLC acquired a new stake in Zoetis during the 2nd quarter valued at approximately $2,119,000. Wedmont Private Capital raised its position in Zoetis by 34.1% during the second quarter. Wedmont Private Capital now owns 2,570 shares of the company’s stock valued at $460,000 after acquiring an additional 653 shares in the last quarter. WASHINGTON TRUST Co grew its stake in shares of Zoetis by 6,605.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 67,455 shares of the company’s stock worth $11,694,000 after purchasing an additional 66,449 shares during the period. Finally, Farrow Financial Inc. lifted its stake in shares of Zoetis by 2.5% in the 2nd quarter. Farrow Financial Inc. now owns 11,528 shares of the company’s stock valued at $1,998,000 after purchasing an additional 279 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the subject of several recent analyst reports. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. The Goldman Sachs Group dropped their price target on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday, May 6th. HSBC cut their price target on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $215.44.

Zoetis Stock Down 1.2 %

Zoetis stock traded down $2.20 during midday trading on Wednesday, hitting $186.18. 93,876 shares of the stock were exchanged, compared to its average volume of 2,759,288. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a 50 day moving average price of $177.34 and a two-hundred day moving average price of $175.26. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The firm has a market cap of $84.95 billion, a P/E ratio of 36.30, a P/E/G ratio of 2.84 and a beta of 0.86.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the business posted $1.41 EPS. Zoetis’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Zoetis Inc. will post 5.84 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be paid a dividend of $0.432 per share. The ex-dividend date is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a yield of 0.93%. Zoetis’s payout ratio is currently 33.14%.

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.