New World Advisors LLC Has $538,000 Stock Position in Zoetis Inc. (NYSE:ZTS)

New World Advisors LLC cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,753 shares of the company’s stock after selling 105 shares during the period. Zoetis comprises approximately 0.1% of New World Advisors LLC’s investment portfolio, making the stock its 26th biggest position. New World Advisors LLC’s holdings in Zoetis were worth $538,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Prevail Innovative Wealth Advisors LLC increased its position in Zoetis by 24.5% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock valued at $3,211,000 after acquiring an additional 3,738 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Zoetis by 58.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,931 shares of the company’s stock valued at $7,095,000 after buying an additional 15,491 shares during the last quarter. Duality Advisers LP increased its stake in shares of Zoetis by 43.7% in the first quarter. Duality Advisers LP now owns 40,641 shares of the company’s stock valued at $6,877,000 after buying an additional 12,359 shares during the period. M&G Plc bought a new stake in Zoetis in the first quarter valued at approximately $19,819,000. Finally, Cetera Investment Advisers increased its position in Zoetis by 275.2% during the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock valued at $16,259,000 after purchasing an additional 70,476 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ZTS. Stifel Nicolaus lifted 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 raised their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. BTIG Research increased their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Zoetis currently has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Down 0.8 %

NYSE ZTS traded down $1.49 during trading hours on Friday, hitting $180.01. The company’s stock had a trading volume of 2,623,220 shares, compared to its average volume of 2,517,962. The company has a market capitalization of $82.14 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 2.94 and a beta of 0.89. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company’s 50-day simple moving average is $189.10 and its two-hundred day simple moving average is $177.79.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. The company had revenue of $2.36 billion for 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%. Zoetis’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Research analysts anticipate that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.96%. Zoetis’s dividend payout ratio (DPR) is 33.14%.

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.