Commerce Bank Reduces Holdings in Zoetis Inc. (NYSE:ZTS)

Commerce Bank trimmed its stake in shares of Zoetis Inc. (NYSE:ZTS) by 4.4% during the third quarter, HoldingsChannel.com reports. The firm owned 94,387 shares of the company’s stock after selling 4,304 shares during the quarter. Commerce Bank’s holdings in Zoetis were worth $18,441,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZTS. Mizuho Securities USA LLC raised its stake in shares of Zoetis by 13,726.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock valued at $950,524,000 after purchasing an additional 4,829,815 shares during the period. Sarasin & Partners LLP boosted its holdings in Zoetis by 546.3% during the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after acquiring an additional 1,904,899 shares during the period. Swedbank AB purchased a new stake in Zoetis during the 1st quarter valued at about $210,815,000. International Assets Investment Management LLC boosted its holdings in Zoetis by 41,235.7% during the 3rd quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock valued at $183,652,000 after acquiring an additional 937,700 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Zoetis by 7,608.6% during the 2nd quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock valued at $144,874,000 after acquiring an additional 824,843 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Zoetis Trading Up 0.1 %

ZTS opened at $175.67 on Thursday. The stock has a market cap of $79.26 billion, a PE ratio of 33.02, a PEG ratio of 2.69 and a beta of 0.90. 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 business has a 50 day moving average of $186.18 and a 200-day moving average of $180.47. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data 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. 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 analyst estimates of $2.29 billion. During the same quarter last year, the company earned $1.36 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts predict that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors 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 32.52%.

Wall Street Analysts Forecast Growth

ZTS has been the subject of several research analyst reports. BTIG Research increased their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Piper Sandler increased their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus increased their price objective on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zoetis presently has an average rating of “Buy” and a consensus target price of $221.44.

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.