Groesbeck Investment Management Corp NJ Sells 1,000 Shares of Zoetis Inc. (NYSE:ZTS)

Groesbeck Investment Management Corp NJ cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 30.2% in the fourth quarter, Holdings Channel reports. The fund owned 2,315 shares of the company’s stock after selling 1,000 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Zoetis were worth $377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZTS. State Street Corp increased its stake in shares of Zoetis by 0.5% in the third quarter. State Street Corp now owns 19,779,344 shares of the company’s stock valued at $3,864,488,000 after buying an additional 95,856 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Zoetis by 1.8% in the third quarter. Geode Capital Management LLC now owns 10,427,760 shares of the company’s stock valued at $2,030,813,000 after buying an additional 185,364 shares in the last quarter. Mizuho Securities USA LLC increased its stake in shares of Zoetis by 13,726.9% in the third quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock valued at $950,524,000 after buying an additional 4,829,815 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Zoetis by 5.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,896,106 shares of the company’s stock valued at $761,221,000 after buying an additional 194,542 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Zoetis by 10.6% in the third quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company’s stock valued at $569,834,000 after buying an additional 279,092 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ZTS has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. UBS Group started coverage on Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Leerink Partners started coverage on Zoetis in a report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price target on the stock. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $215.00.

Zoetis Trading Up 0.2 %

NYSE:ZTS opened at $172.24 on Wednesday. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $200.53. The business’s 50-day moving average price is $169.48 and its two-hundred day moving average price is $179.39. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $77.71 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.72 and a beta of 0.90.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the company earned $1.36 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, January 21st will be issued a $0.50 dividend. This is an increase from Zoetis’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, January 21st. Zoetis’s dividend payout ratio is 37.59%.

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.