Silvercrest Asset Management Group LLC Has $2.17 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Silvercrest Asset Management Group LLC boosted its holdings in Zoetis Inc. (NYSE:ZTS) by 33.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,793 shares of the company’s stock after purchasing an additional 3,193 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Zoetis were worth $2,165,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ZTS. Vanguard Group Inc. lifted its position in shares of Zoetis by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock valued at $6,895,235,000 after acquiring an additional 414,605 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Zoetis by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock valued at $2,707,262,000 after purchasing an additional 3,244,074 shares during the period. Capital World Investors raised its holdings in shares of Zoetis by 0.6% during the fourth quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock valued at $1,788,988,000 after purchasing an additional 57,798 shares during the period. Norges Bank bought a new position in shares of Zoetis during the 4th quarter worth about $980,646,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Zoetis by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 4,509,599 shares of the company’s stock valued at $763,069,000 after buying an additional 151,689 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Stifel Nicolaus reduced their price objective on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Barclays reduced their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. BTIG Research started coverage on Zoetis in a report on Thursday, July 25th. They set a “buy” rating and a $220.00 price objective for the company. The Goldman Sachs Group decreased their price target on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a report on Monday, May 6th. Finally, HSBC dropped their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Zoetis has an average rating of “Buy” and an average target price of $212.67.

Zoetis Price Performance

Shares of NYSE:ZTS opened at $181.83 on Wednesday. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a market capitalization of $82.97 billion, a PE ratio of 35.03, a price-to-earnings-growth ratio of 2.82 and a beta of 0.86. The business has a fifty day moving average price of $174.84 and a two-hundred day moving average price of $175.77. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.04. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. Analysts forecast that Zoetis Inc. will post 5.76 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be issued a $0.432 dividend. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.95%. Zoetis’s dividend payout ratio (DPR) is presently 33.33%.

Zoetis Company 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.