Townsquare Capital LLC Has $32.35 Million Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Townsquare Capital LLC lowered its position in shares of Zoetis Inc. (NYSE:ZTS) by 4.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,580 shares of the company’s stock after selling 6,871 shares during the quarter. Townsquare Capital LLC’s holdings in Zoetis were worth $32,351,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in Zoetis in the 3rd quarter worth approximately $31,000. First Personal Financial Services bought a new stake in shares of Zoetis during the third quarter worth $33,000. Capital Performance Advisors LLP acquired a new position in shares of Zoetis during the third quarter valued at $33,000. Quarry LP boosted its holdings in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after acquiring an additional 153 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Zoetis in the first quarter worth about $43,000. 92.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Argus upgraded shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Piper Sandler upped their target price on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus lifted their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, BTIG Research raised their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. 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. According to data from MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and a consensus price target of $221.44.

Zoetis Stock Performance

ZTS opened at $175.70 on Wednesday. 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 company has a market capitalization of $79.27 billion, a price-to-earnings ratio of 33.03, a P/E/G ratio of 2.74 and a beta of 0.90. The business’s 50-day moving average price is $184.91 and its two-hundred day moving average price is $180.84. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share 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 firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the firm posted $1.36 EPS. The business’s revenue was up 11.6% on a year-over-year basis. Equities analysts expect that Zoetis Inc. will post 5.9 EPS 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 of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.98%. Zoetis’s payout ratio is currently 32.52%.

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.