Zoetis Inc. (NYSE:ZTS) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC lowered its position in Zoetis Inc. (NYSE:ZTS) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,057 shares of the company’s stock after selling 127 shares during the quarter. Sky Investment Group LLC’s holdings in Zoetis were worth $4,114,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Webster Bank N. A. grew its position in Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the last quarter. Quarry LP grew its holdings 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 buying an additional 153 shares during the last quarter. LRI Investments LLC acquired a new position in Zoetis in the 1st quarter valued at about $43,000. Central Valley Advisors LLC purchased a new stake in Zoetis during the 2nd quarter valued at approximately $49,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Zoetis during the 1st quarter worth approximately $51,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Price Performance

NYSE ZTS traded down $1.25 during mid-day trading on Tuesday, hitting $188.20. The stock had a trading volume of 198,327 shares, compared to its average volume of 2,507,519. The company has a 50 day simple moving average of $189.09 and a 200 day simple moving average of $177.34. The company has a market cap of $85.87 billion, a price-to-earnings ratio of 36.20, a P/E/G ratio of 3.00 and a beta of 0.89. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. 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 announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating 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 return on equity of 50.67% and a net margin of 26.29%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $1.41 earnings per share. Equities analysts forecast that Zoetis Inc. will post 5.83 EPS for the current fiscal 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 paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is currently 33.14%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Stifel Nicolaus raised their target price 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. Piper Sandler boosted their price target on shares of 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. increased their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, BTIG Research lifted their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus 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.