Montrusco Bolton Investments Inc. Has $86.32 Million Position in Zoetis Inc. (NYSE:ZTS)

Montrusco Bolton Investments Inc. reduced its stake in shares of Zoetis Inc. (NYSE:ZTS) by 27.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 455,954 shares of the company’s stock after selling 173,314 shares during the quarter. Zoetis makes up approximately 0.9% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 25th largest position. Montrusco Bolton Investments Inc. owned about 0.10% of Zoetis worth $86,319,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Darwin Wealth Management LLC acquired a new stake in Zoetis in the third quarter valued at approximately $31,000. First Personal Financial Services bought a new position in Zoetis during the third quarter worth $33,000. Capital Performance Advisors LLP bought a new position in Zoetis during the third quarter worth $33,000. Quarry LP increased its holdings in Zoetis by 273.2% in 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 period. Finally, Fortitude Family Office LLC increased its holdings in 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. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

Shares of ZTS stock opened at $176.98 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. The stock has a market cap of $79.85 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. The stock has a 50-day moving average of $185.62 and a 200-day moving average of $180.53. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92.

Zoetis (NYSE:ZTS) last posted 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 during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the business earned $1.36 EPS. Zoetis’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. Zoetis’s payout ratio is 32.52%.

Analysts Set New Price Targets

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