Sawgrass Asset Management LLC Sells 21,530 Shares of Zoetis Inc. (NYSE:ZTS)

Sawgrass Asset Management LLC cut its position in Zoetis Inc. (NYSE:ZTS) by 23.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 70,742 shares of the company’s stock after selling 21,530 shares during the period. Zoetis makes up about 1.4% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 23rd largest holding. Sawgrass Asset Management LLC’s holdings in Zoetis were worth $13,822,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZTS. First Personal Financial Services bought a new stake in Zoetis in the 3rd quarter worth about $33,000. Capital Performance Advisors LLP bought a new stake in shares of Zoetis in the third quarter worth approximately $33,000. Quarry LP raised its holdings in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares during the last quarter. LRI Investments LLC bought a new position in Zoetis during the first quarter valued at approximately $43,000. Finally, Fortitude Family Office LLC boosted its holdings in Zoetis by 1,387.5% in the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after purchasing an additional 222 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the topic of several research analyst reports. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. BTIG Research boosted their price target on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Piper Sandler increased 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. Finally, Stifel Nicolaus raised their price objective on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Ten equities research 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, Zoetis has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Performance

Shares of NYSE ZTS opened at $175.14 on Friday. The stock has a market cap of $79.02 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 2.69 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 firm has a fifty day moving average price of $187.09 and a 200-day moving average price of $180.23. 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 (NYSE:ZTS) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $1.36 earnings per share. Equities analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

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 paid a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.99%. Zoetis’s payout ratio is 32.52%.

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.