Community Financial Services Group LLC Acquires 8,387 Shares of Zoetis Inc. (NYSE:ZTS)

Community Financial Services Group LLC boosted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 34.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,481 shares of the company’s stock after buying an additional 8,387 shares during the quarter. Zoetis makes up about 1.3% of Community Financial Services Group LLC’s investment portfolio, making the stock its 25th largest holding. Community Financial Services Group LLC’s holdings in Zoetis were worth $6,346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Webster Bank N. A. raised its stake in Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares during the period. Quarry LP lifted its stake in shares of Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after buying an additional 153 shares in the last quarter. LRI Investments LLC bought a new position in Zoetis in the 1st quarter worth $43,000. Hazlett Burt & Watson Inc. increased its stake in Zoetis by 60.7% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock worth $46,000 after buying an additional 102 shares in the last quarter. Finally, Central Valley Advisors LLC bought a new stake in Zoetis during the second quarter valued at about $49,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Zoetis Stock Performance

Shares of NYSE ZTS traded down $3.83 during midday trading on Monday, reaching $189.45. The company had a trading volume of 959,459 shares, compared to its average volume of 2,518,894. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The business’s 50-day simple moving average is $188.98 and its 200 day simple moving average is $177.17. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The stock has a market cap of $86.45 billion, a P/E ratio of 36.53, a P/E/G ratio of 3.00 and a beta of 0.89.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. Zoetis’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is 33.14%.

Zoetis 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.