Swedbank AB Sells 134,161 Shares of Zoetis Inc. (NYSE:ZTS)

by · The Cerbat Gem

Swedbank AB cut its position in Zoetis Inc. (NYSE:ZTS – Free Report) by 6.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,812,116 shares of the company’s stock after selling 134,161 shares during the period. Swedbank AB’s holdings in Zoetis were worth $354,051,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC lifted its stake in Zoetis by 4.8% during the second quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock worth $204,000 after purchasing an additional 54 shares during the last quarter. Forza Wealth Management LLC raised its stake in Zoetis by 1.8% in the second quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock worth $574,000 after buying an additional 58 shares in the last quarter. L. Roy Papp & Associates LLP grew its stake in Zoetis by 2.8% in the second quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock worth $385,000 after purchasing an additional 60 shares during the period. Grove Bank & Trust increased its stake in shares of Zoetis by 0.5% in the 3rd quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock worth $2,298,000 after acquiring an additional 61 shares in the last quarter. Finally, Angeles Wealth Management LLC increased its stake in shares of Zoetis by 3.8% during the first quarter. Angeles Wealth Management LLC now owns 1,702 shares of the company’s stock valued at $288,000 after purchasing an additional 62 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Report on Zoetis

Zoetis Price Performance

NYSE ZTS traded up $0.35 during trading on Tuesday, hitting $193.00. 634,047 shares of the stock traded hands, compared to its average volume of 2,536,315. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The firm has a 50-day simple moving average of $188.43 and a 200-day simple moving average of $176.42. The company has a market capitalization of $88.06 billion, a P/E ratio of 37.12, a price-to-earnings-growth ratio of 2.95 and a beta of 0.89.

Zoetis (NYSE:ZTS – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business earned $1.41 earnings per share. Zoetis’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts predict that Zoetis Inc. will post 5.83 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 given a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.90%. Zoetis’s dividend payout ratio (DPR) is presently 33.14%.

Zoetis Profile

(Free Report)

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.

See Also

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