E. Ohman J or Asset Management AB Decreases Stake in Zoetis Inc. (NYSE:ZTS)

E. Ohman J or Asset Management AB decreased its holdings in Zoetis Inc. (NYSE:ZTS) by 5.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 18,600 shares of the company’s stock after selling 1,000 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Zoetis were worth $3,634,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Schmidt P J Investment Management Inc. boosted its stake in shares of Zoetis by 5.6% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 1,422 shares of the company’s stock valued at $278,000 after buying an additional 75 shares during the last quarter. Nicholson Wealth Management Group LLC bought a new position in Zoetis during the 3rd quarter valued at $648,000. Mount Yale Investment Advisors LLC grew its holdings in Zoetis by 3.1% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 4,503 shares of the company’s stock worth $880,000 after acquiring an additional 137 shares in the last quarter. Legacy Capital Group California Inc. acquired a new position in Zoetis during the 3rd quarter worth $935,000. Finally, Dakota Wealth Management increased its position in shares of Zoetis by 1.8% in the 3rd quarter. Dakota Wealth Management now owns 84,177 shares of the company’s stock worth $16,446,000 after purchasing an additional 1,492 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus lifted their target price on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Argus raised Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research lifted their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Piper Sandler boosted 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. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $221.44.

Zoetis Trading Down 4.0 %

Shares of NYSE:ZTS opened at $181.52 on Friday. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The company’s 50-day moving average price is $189.23 and its 200 day moving average price is $177.58. The company has a market cap of $82.24 billion, a PE ratio of 35.52, a P/E/G ratio of 2.94 and a beta of 0.89. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current 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 given a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.95%. Zoetis’s dividend payout ratio (DPR) is presently 33.86%.

Zoetis 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.