US Bancorp DE Increases Stock Position in Zoetis Inc. (NYSE:ZTS)

US Bancorp DE increased its position in shares of Zoetis Inc. (NYSE:ZTS) by 0.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 151,819 shares of the company’s stock after buying an additional 637 shares during the period. US Bancorp DE’s holdings in Zoetis were worth $29,665,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Sarasin & Partners LLP grew its position in shares of Zoetis by 546.3% during the second quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after buying an additional 1,904,899 shares in the last quarter. Swedbank AB acquired a new position in Zoetis during the 1st quarter worth $210,815,000. International Assets Investment Management LLC increased its position in shares of Zoetis by 41,235.7% in the 3rd quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock worth $183,652,000 after purchasing an additional 937,700 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Zoetis by 7,608.6% in the 2nd quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock valued at $144,874,000 after purchasing an additional 824,843 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Zoetis by 1.0% during the first quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock worth $6,895,235,000 after purchasing an additional 414,605 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of ZTS opened at $181.95 on Friday. The firm has a fifty day moving average of $188.97 and a 200-day moving average of $178.51. The company has a market cap of $82.43 billion, a price-to-earnings ratio of 35.61, a price-to-earnings-growth ratio of 2.78 and a beta of 0.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92.

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

Zoetis Dividend Announcement

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 $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 33.86%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZTS. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Piper Sandler lifted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus boosted their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, BTIG Research raised their price target on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Ten investment 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, the company currently has a consensus rating of “Buy” and an average target price of $221.44.

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.