Proficio Capital Partners LLC Cuts Position in Zoetis Inc. (NYSE:ZTS)

Proficio Capital Partners LLC lessened its position in shares of Zoetis Inc. (NYSE:ZTS) by 33.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,896 shares of the company’s stock after selling 939 shares during the quarter. Proficio Capital Partners LLC’s holdings in Zoetis were worth $370,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Zoetis by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock valued at $6,895,235,000 after buying an additional 414,605 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Zoetis by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock valued at $812,695,000 after buying an additional 178,303 shares in the last quarter. Capital Research Global Investors grew its holdings in Zoetis by 2.3% during the 1st 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. Clearbridge Investments LLC grew its holdings in Zoetis by 5.8% during the 2nd quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock valued at $527,774,000 after buying an additional 166,517 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Zoetis by 17.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company’s stock valued at $464,497,000 after buying an additional 351,372 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of recent research reports. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted 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. BTIG Research lifted their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus lifted their target price on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Sandler lifted their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zoetis currently has a consensus rating of “Buy” and a consensus target price of $221.44.

Zoetis Trading Up 1.5 %

Shares of NYSE ZTS opened at $176.82 on Monday. The company has a quick ratio of 2.09, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $188.15 and a two-hundred day simple moving average of $179.56. The firm has a market cap of $79.77 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92.

Zoetis (NYSE:ZTS) last issued its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. Zoetis’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. Analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is presently 32.33%.

Zoetis Company 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.