Diversify Advisory Services LLC Decreases Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Diversify Advisory Services LLC lessened its stake in Zoetis Inc. (NYSE:ZTS) by 13.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,640 shares of the company’s stock after selling 2,486 shares during the period. Diversify Advisory Services LLC’s holdings in Zoetis were worth $2,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ZTS. Vanguard Group Inc. raised its stake 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 worth $6,895,235,000 after acquiring an additional 414,605 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Zoetis by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock worth $812,695,000 after purchasing an additional 178,303 shares during the last quarter. Capital Research Global Investors increased its position in shares of Zoetis by 2.3% during the first quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock worth $685,416,000 after purchasing an additional 90,330 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Zoetis by 5.8% during the 2nd quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock valued at $527,774,000 after purchasing an additional 166,517 shares during the last quarter. Finally, Sarasin & Partners LLP boosted its position in shares of Zoetis by 546.3% in the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after purchasing an additional 1,904,899 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Zoetis Stock Performance

ZTS traded down $0.12 during midday trading on Tuesday, hitting $182.64. 48,255 shares of the company were exchanged, compared to its average volume of 2,503,271. The company’s 50 day simple moving average is $189.07 and its 200 day simple moving average is $178.03. The firm has a market capitalization of $82.75 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company earned $1.41 earnings per share. Zoetis’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, sell-side analysts predict that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is presently 33.14%.

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.