Stonegate Investment Group LLC Sells 301 Shares of Zoetis Inc. (NYSE:ZTS)

Stonegate Investment Group LLC trimmed its position in shares of Zoetis Inc. (NYSE:ZTS) by 10.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,539 shares of the company’s stock after selling 301 shares during the period. Stonegate Investment Group LLC’s holdings in Zoetis were worth $496,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Webster Bank N. A. raised its holdings in Zoetis by 89.1% during the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the period. Quarry LP grew its position in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after purchasing an additional 153 shares in the last quarter. LRI Investments LLC bought a new stake in Zoetis during the 1st quarter valued at approximately $43,000. Hazlett Burt & Watson Inc. lifted its holdings in Zoetis by 60.7% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock worth $46,000 after purchasing an additional 102 shares in the last quarter. Finally, Central Valley Advisors LLC bought a new position in Zoetis in the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

NYSE:ZTS opened at $193.37 on Friday. The firm has a market capitalization of $88.23 billion, a PE ratio of 37.26, a PEG ratio of 2.99 and a beta of 0.89. The stock’s fifty day moving average is $188.98 and its 200 day moving average is $176.99. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45.

Zoetis (NYSE:ZTS) last released its earnings results 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. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates 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 quarter last year, the business earned $1.41 EPS. On average, sell-side analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Announces Dividend

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 paid 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 0.89%. Zoetis’s dividend payout ratio is 33.14%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Piper Sandler lifted their price target on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research lifted their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus boosted 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. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $221.44.

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.