Zoetis Inc. (NYSE:ZTS) Shares Sold by Camden National Bank

Camden National Bank lowered its position in shares of Zoetis Inc. (NYSE:ZTS) by 1.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,942 shares of the company’s stock after selling 690 shares during the period. Zoetis makes up approximately 1.8% of Camden National Bank’s portfolio, making the stock its 19th largest position. Camden National Bank’s holdings in Zoetis were worth $12,493,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZTS. Darwin Wealth Management LLC acquired a new stake in Zoetis in the 3rd quarter valued at approximately $31,000. First Personal Financial Services acquired a new position in shares of Zoetis in the third quarter worth $33,000. Capital Performance Advisors LLP acquired a new position in shares of Zoetis in the third quarter worth $33,000. Quarry LP grew its stake in shares of Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after acquiring an additional 153 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Zoetis in the first quarter worth $43,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Trading Up 0.2 %

NYSE ZTS opened at $176.98 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The firm has a market cap of $79.85 billion, a PE ratio of 33.27, a P/E/G ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The firm’s fifty day moving average is $185.62 and its two-hundred day moving average is $180.53.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the business posted $1.36 earnings per share. Zoetis’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current 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 paid 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 (DPR) is 32.52%.

Analyst Ratings Changes

ZTS has been the subject of several research reports. Stifel Nicolaus boosted their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. boosted their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. BTIG Research boosted their price target on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Piper Sandler lifted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $221.44.

About Zoetis

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.