Commerce Bank Has $18.44 Million Holdings in Zoetis Inc. (NYSE:ZTS)

Commerce Bank trimmed its position in shares of Zoetis Inc. (NYSE:ZTS) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,387 shares of the company’s stock after selling 4,304 shares during the quarter. Commerce Bank’s holdings in Zoetis were worth $18,441,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers lifted its stake in shares of Zoetis by 275.2% in the first 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 period. Simplify Asset Management Inc. bought a new stake in Zoetis in the third quarter worth approximately $11,684,000. Soltis Investment Advisors LLC bought a new stake in Zoetis in the first quarter worth approximately $688,000. Bank Pictet & Cie Asia Ltd. increased its holdings in Zoetis by 41.0% in the second quarter. Bank Pictet & Cie Asia Ltd. now owns 37,500 shares of the company’s stock worth $6,501,000 after purchasing an additional 10,900 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Zoetis by 56.2% during the second quarter. Swedbank AB now owns 1,946,277 shares of the company’s stock valued at $337,407,000 after acquiring an additional 700,398 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Trading Up 0.1 %

Shares of Zoetis stock opened at $175.67 on Thursday. The stock has a fifty day simple moving average of $186.18 and a 200 day simple moving average of $180.47. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a market capitalization of $79.26 billion, a P/E ratio of 33.02, a price-to-earnings-growth ratio of 2.69 and a beta of 0.90. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given 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 dividend payout ratio is currently 32.52%.

Wall Street Analysts Forecast Growth

ZTS has been the subject of several recent research reports. Piper Sandler boosted their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. BTIG Research boosted their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Stifel Nicolaus boosted their price objective on Zoetis from $200.00 to $210.00 and gave the company 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 company an “overweight” rating in a report on Friday, October 11th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zoetis currently has an average rating of “Buy” and a consensus price target 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.