Coastline Trust Co Sells 2,235 Shares of Zoetis Inc. (NYSE:ZTS)

Coastline Trust Co decreased its position in shares of Zoetis Inc. (NYSE:ZTS) by 23.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,291 shares of the company’s stock after selling 2,235 shares during the quarter. Coastline Trust Co’s holdings in Zoetis were worth $1,425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Personal Financial Services acquired a new stake in Zoetis in the third quarter worth about $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Zoetis during the 3rd quarter worth approximately $33,000. Quarry LP raised its stake in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares during the last quarter. LRI Investments LLC acquired a new position in Zoetis in the first quarter valued at approximately $43,000. Finally, Fortitude Family Office LLC boosted its stake in Zoetis by 1,387.5% in the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after acquiring an additional 222 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Zoetis Stock Up 0.3 %

Shares of ZTS stock opened at $175.12 on Friday. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. 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 fifty day moving average of $187.09 and a 200-day moving average of $180.08. The company has a market capitalization of $79.01 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 2.68 and a beta of 0.90.

Zoetis (NYSE:ZTS) last released its earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. As a group, equities research analysts predict 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 paid a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is 32.52%.

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.