Zoetis Inc. (NYSE:ZTS) Shares Sold by Camden National Bank

Camden National Bank reduced its stake in shares of Zoetis Inc. (NYSE:ZTS) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,942 shares of the company’s stock after selling 690 shares during the quarter. Zoetis accounts for approximately 1.8% of Camden National Bank’s portfolio, making the stock its 19th largest holding. Camden National Bank’s holdings in Zoetis were worth $12,493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC lifted its holdings 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 purchasing an additional 4,829,815 shares in the last quarter. Sarasin & Partners LLP lifted its holdings in shares of Zoetis by 546.3% in the second quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after purchasing an additional 1,904,899 shares in the last quarter. Swedbank AB purchased a new stake in shares of Zoetis in the first quarter valued at about $210,815,000. International Assets Investment Management LLC lifted its holdings in shares of Zoetis by 41,235.7% in the third quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock valued at $183,652,000 after purchasing an additional 937,700 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Zoetis by 7,608.6% in the second quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock valued at $144,874,000 after purchasing an additional 824,843 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Price Performance

Zoetis stock opened at $176.98 on Friday. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The firm has a fifty day moving average of $185.62 and a 200-day moving average of $180.53. The firm has a market capitalization of $79.85 billion, a P/E ratio of 33.27, a PEG ratio of 2.71 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.

Zoetis (NYSE:ZTS) last released its quarterly 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 net margin of 26.55% and a return on equity of 51.98%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $1.36 EPS. As a group, analysts predict that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Announces Dividend

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

Analysts Set New Price Targets

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