Dearborn Partners LLC Reduces Position in Zoetis Inc. (NYSE:ZTS)

Dearborn Partners LLC decreased its position in Zoetis Inc. (NYSE:ZTS) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,730 shares of the company’s stock after selling 3,748 shares during the period. Dearborn Partners LLC’s holdings in Zoetis were worth $29,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in ZTS. First Personal Financial Services purchased a new stake in shares of Zoetis in the 3rd quarter valued at $33,000. Capital Performance Advisors LLP purchased a new stake in Zoetis in the third quarter valued at $33,000. Quarry LP grew its position in Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after purchasing an additional 153 shares during the period. LRI Investments LLC purchased a new position in shares of Zoetis during the 1st quarter valued at about $43,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Zoetis by 1,387.5% in the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after buying an additional 222 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZTS. 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. 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 report on Wednesday, September 18th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research increased their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. 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.com, Zoetis presently has a consensus rating of “Buy” and an average price target of $221.44.

Zoetis Stock Performance

Shares of NYSE:ZTS opened at $174.63 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The firm has a market capitalization of $78.79 billion, a PE ratio of 32.83, a P/E/G ratio of 2.72 and a beta of 0.90. The business’s 50 day moving average price is $187.61 and its 200-day moving average price is $180.02.

Zoetis (NYSE:ZTS) last announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.12. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. As a group, equities research analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is 32.52%.

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.