Zoetis Inc. (NYSE:ZTS) Shares Sold by Hartline Investment Corp

Hartline Investment Corp decreased its position in shares of Zoetis Inc. (NYSE:ZTS) by 11.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,469 shares of the company’s stock after selling 1,367 shares during the quarter. Hartline Investment Corp’s holdings in Zoetis were worth $2,045,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Prevail Innovative Wealth Advisors LLC increased its stake in shares of Zoetis by 24.5% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock valued at $3,211,000 after purchasing an additional 3,738 shares during the period. M&G Plc acquired a new position in Zoetis during the 1st quarter worth $19,819,000. Cetera Investment Advisers boosted its position in Zoetis by 275.2% during the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after acquiring an additional 70,476 shares during the period. Acadian Asset Management LLC grew its stake in shares of Zoetis by 49.6% in the first quarter. Acadian Asset Management LLC now owns 25,051 shares of the company’s stock worth $4,235,000 after purchasing an additional 8,302 shares in the last quarter. Finally, Soltis Investment Advisors LLC acquired a new position in shares of Zoetis during the first quarter valued at $688,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Trading Down 1.2 %

NYSE:ZTS opened at $173.95 on Wednesday. The stock has a fifty day simple moving average of $187.81 and a 200 day simple moving average of $180.04. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $78.48 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 2.70 and a beta of 0.90. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.36 earnings per share. Sell-side analysts forecast that Zoetis Inc. will post 5.9 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 given a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.99%. Zoetis’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Piper Sandler increased their price target on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, BTIG Research boosted their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Zoetis presently has a consensus rating of “Buy” and a consensus target price of $221.44.

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.