Ritholtz Wealth Management Sells 68 Shares of Zoetis Inc. (NYSE:ZTS)

Ritholtz Wealth Management lowered its position in Zoetis Inc. (NYSE:ZTS) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,805 shares of the company’s stock after selling 68 shares during the quarter. Ritholtz Wealth Management’s holdings in Zoetis were worth $3,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ZTS. Gateway Investment Advisers LLC lifted its position in Zoetis by 14.2% during the third quarter. Gateway Investment Advisers LLC now owns 2,383 shares of the company’s stock valued at $466,000 after purchasing an additional 297 shares in the last quarter. Covea Finance lifted its position in shares of Zoetis by 23.6% during the 3rd quarter. Covea Finance now owns 256,444 shares of the company’s stock valued at $50,104,000 after buying an additional 49,000 shares in the last quarter. Perfromance Wealth Partners LLC grew its stake in shares of Zoetis by 40.6% during the 3rd quarter. Perfromance Wealth Partners LLC now owns 1,910 shares of the company’s stock valued at $370,000 after acquiring an additional 552 shares during the period. First Affirmative Financial Network increased its holdings in Zoetis by 14.9% in the 3rd quarter. First Affirmative Financial Network now owns 1,750 shares of the company’s stock worth $342,000 after acquiring an additional 227 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in Zoetis by 1.1% during the 3rd quarter. Valeo Financial Advisors LLC now owns 8,028 shares of the company’s stock worth $1,568,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

Zoetis stock traded down $0.20 during midday trading on Friday, reaching $190.08. 1,819,934 shares of the stock traded hands, compared to its average volume of 1,754,904. The stock’s fifty day moving average is $188.07 and its 200-day moving average is $176.12. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The stock has a market cap of $86.12 billion, a P/E ratio of 37.20, a PEG ratio of 2.95 and a beta of 0.89. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the company posted $1.41 EPS. As a group, equities research analysts anticipate that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is 33.86%.

Wall Street Analysts Forecast Growth

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

Zoetis Company 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.