Dearborn Partners LLC Sells 3,748 Shares of Zoetis Inc. (NYSE:ZTS)

Dearborn Partners LLC trimmed its position in shares of Zoetis Inc. (NYSE:ZTS) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,730 shares of the company’s stock after selling 3,748 shares during the quarter. Dearborn Partners LLC’s holdings in Zoetis were worth $29,645,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Prevail Innovative Wealth Advisors LLC grew its holdings in Zoetis by 24.5% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock valued at $3,211,000 after purchasing an additional 3,738 shares during the last quarter. M&G Plc purchased a new stake in shares of Zoetis in the first quarter worth approximately $19,819,000. Cetera Investment Advisers lifted its stake in shares of Zoetis by 275.2% during the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after acquiring an additional 70,476 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Zoetis by 49.6% during the 1st quarter. Acadian Asset Management LLC now owns 25,051 shares of the company’s stock valued at $4,235,000 after acquiring an additional 8,302 shares during the period. Finally, Soltis Investment Advisors LLC bought a new position in Zoetis in the 1st quarter valued at $688,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

ZTS stock opened at $174.63 on Friday. The firm has a 50-day simple moving average of $187.61 and a two-hundred day simple moving average of $180.02. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The firm has a market cap of $78.79 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 2.72 and a beta of 0.90.

Zoetis (NYSE:ZTS) last announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the firm earned $1.36 earnings per share. Zoetis’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that Zoetis Inc. will post 5.9 EPS for the current fiscal 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 given a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.99%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 32.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. 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. Piper Sandler boosted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus raised their target price 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. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $221.44.

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.