Zoetis Inc. (NYSE:ZTS) Shares Sold by Portfolio Design Labs LLC

by · The Markets Daily

Portfolio Design Labs LLC reduced its stake in shares of Zoetis Inc. (NYSE:ZTS – Free Report) by 85.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,345 shares of the company’s stock after selling 13,365 shares during the period. Portfolio Design Labs LLC’s holdings in Zoetis were worth $458,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ZTS. First Personal Financial Services bought a new position in Zoetis during the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP bought a new stake in Zoetis during the third quarter valued at $33,000. Quarry LP grew its position 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 during the last quarter. Fortitude Family Office LLC raised its stake in Zoetis by 1,387.5% during the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after acquiring an additional 222 shares during the period. Finally, LRI Investments LLC bought a new position in Zoetis in the first quarter worth about $43,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Trading Down 0.5 %

Shares of NYSE:ZTS opened at $175.57 on Wednesday. The stock has a market capitalization of $79.21 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a 50 day moving average price of $186.47 and a 200 day moving average price of $180.51. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69.

Zoetis (NYSE:ZTS – Get Free Report) last issued 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. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the firm posted $1.36 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be issued 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 dividend yield of 0.98%. Zoetis’s dividend payout ratio is currently 32.52%.

Analyst Ratings Changes

Several brokerages recently issued reports on ZTS. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research boosted their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. increased their price objective 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 boosted their target price 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. Finally, Piper Sandler lifted their price target on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and a consensus target price of $221.44.

Read Our Latest Analysis on Zoetis

About Zoetis

(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.

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