Confluence Wealth Services Inc. Acquires 213 Shares of Zoetis Inc. (NYSE:ZTS)

Confluence Wealth Services Inc. lifted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 15.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,555 shares of the company’s stock after purchasing an additional 213 shares during the period. Confluence Wealth Services Inc.’s holdings in Zoetis were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Whittier Trust Co. raised its holdings in shares of Zoetis by 3.2% in the 1st quarter. Whittier Trust Co. now owns 10,810 shares of the company’s stock worth $1,829,000 after purchasing an additional 332 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Zoetis by 8.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,792 shares of the company’s stock valued at $472,000 after buying an additional 208 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Zoetis during the 1st quarter valued at $509,000. Proficio Capital Partners LLC grew its stake in shares of Zoetis by 6.5% during the 1st quarter. Proficio Capital Partners LLC now owns 2,761 shares of the company’s stock worth $467,000 after acquiring an additional 169 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Zoetis by 58.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,931 shares of the company’s stock worth $7,095,000 after acquiring an additional 15,491 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Down 3.7 %

ZTS opened at $175.18 on Tuesday. The business’s fifty day simple moving average is $188.84 and its 200 day simple moving average is $179.03. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The stock has a market cap of $79.37 billion, a PE ratio of 34.28, a P/E/G ratio of 2.78 and a beta of 0.90.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping 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 company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company posted $1.41 EPS. Zoetis’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts expect that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be paid a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.99%. Zoetis’s dividend payout ratio (DPR) is 33.66%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ZTS shares. JPMorgan Chase & Co. increased their target price on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Stifel Nicolaus lifted their price objective on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Piper Sandler lifted their price target on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, 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. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Zoetis currently has an average rating of “Buy” and an average 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.