Zoetis Inc. (NYSE:ZTS) Shares Sold by Brown Capital Management LLC

Brown Capital Management LLC cut its position in Zoetis Inc. (NYSE:ZTS) by 34.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,644 shares of the company’s stock after selling 1,383 shares during the period. Brown Capital Management LLC’s holdings in Zoetis were worth $517,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Axxcess Wealth Management LLC boosted its holdings in Zoetis by 17.4% in the first quarter. Axxcess Wealth Management LLC now owns 9,826 shares of the company’s stock valued at $1,663,000 after purchasing an additional 1,458 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Zoetis by 4.4% during the 1st quarter. Advisors Asset Management Inc. now owns 16,168 shares of the company’s stock worth $2,736,000 after purchasing an additional 678 shares during the period. Toronto Dominion Bank boosted its holdings in Zoetis by 17.5% during the first quarter. Toronto Dominion Bank now owns 308,667 shares of the company’s stock worth $52,230,000 after buying an additional 46,001 shares in the last quarter. Capital Research Global Investors increased its holdings in Zoetis by 2.3% in the first quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock valued at $685,416,000 after buying an additional 90,330 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in shares of Zoetis by 4.1% in the first quarter. Westwood Holdings Group Inc. now owns 163,965 shares of the company’s stock worth $27,745,000 after acquiring an additional 6,494 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZTS has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price target on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. upped their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research increased 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, August 12th. Finally, Piper Sandler upped their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $221.44.

Zoetis Price Performance

Zoetis stock opened at $175.67 on Thursday. The company’s 50 day simple moving average is $186.18 and its 200-day simple moving average is $180.47. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a market capitalization of $79.26 billion, a price-to-earnings ratio of 33.02, a price-to-earnings-growth ratio of 2.69 and a beta of 0.90.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is currently 32.52%.

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.