Impax Asset Management Group plc Lowers Stock Position in Zoetis Inc. (NYSE:ZTS)

Impax Asset Management Group plc trimmed its stake in Zoetis Inc. (NYSE:ZTS) by 7.5% during the third quarter, Holdings Channel.com reports. The fund owned 67,782 shares of the company’s stock after selling 5,488 shares during the period. Impax Asset Management Group plc’s holdings in Zoetis were worth $13,243,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Diversified Portfolios Inc. acquired a new stake in Zoetis during the 3rd quarter worth approximately $201,000. ING Groep NV lifted its holdings in Zoetis by 0.7% during the 3rd quarter. ING Groep NV now owns 107,691 shares of the company’s stock worth $21,041,000 after buying an additional 714 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Zoetis by 0.8% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 126,469 shares of the company’s stock worth $24,710,000 after buying an additional 942 shares in the last quarter. Metis Global Partners LLC lifted its holdings in Zoetis by 4.9% during the 3rd quarter. Metis Global Partners LLC now owns 32,187 shares of the company’s stock worth $6,289,000 after buying an additional 1,511 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in Zoetis by 11.8% during the 3rd quarter. Zions Bancorporation N.A. now owns 21,036 shares of the company’s stock worth $4,110,000 after buying an additional 2,219 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Up 0.3 %

Shares of NYSE ZTS opened at $175.12 on Friday. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $79.01 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 2.68 and a beta of 0.90. The firm has a 50-day moving average price of $187.37 and a 200 day moving average price of $179.98. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92.

Zoetis (NYSE:ZTS) last announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 earnings per share. Equities research analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is 32.52%.

Analyst Ratings Changes

A number of research analysts recently commented on ZTS shares. JPMorgan Chase & Co. increased their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. BTIG Research increased their target price 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. Stifel Nicolaus increased their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Piper Sandler increased their target price 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. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zoetis 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.