Zurcher Kantonalbank Zurich Cantonalbank Buys 16,421 Shares of Zoetis Inc. (NYSE:ZTS)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Zoetis Inc. (NYSE:ZTS) by 8.7% in the third quarter, HoldingsChannel.com reports. The fund owned 204,920 shares of the company’s stock after purchasing an additional 16,421 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zoetis were worth $40,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ZTS. Darwin Wealth Management LLC bought a new stake in Zoetis during the third quarter valued at approximately $31,000. First Personal Financial Services bought a new stake in Zoetis during the third quarter valued at approximately $33,000. Capital Performance Advisors LLP bought a new stake in Zoetis during the third quarter valued at approximately $33,000. Quarry LP grew its position in Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after buying an additional 153 shares during the period. Finally, LRI Investments LLC bought a new stake in Zoetis during the first quarter valued at approximately $43,000. 92.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ZTS has been the subject of several recent research reports. BTIG Research boosted 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. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Stifel Nicolaus lifted their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Sandler lifted their price target 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $221.44.

Zoetis Price Performance

Shares of NYSE:ZTS opened at $176.74 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The firm has a fifty day moving average price of $184.18 and a 200 day moving average price of $180.78. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The firm has a market cap of $79.74 billion, a price-to-earnings ratio of 33.22, a P/E/G ratio of 2.71 and a beta of 0.90.

Zoetis (NYSE:ZTS) last issued its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. Zoetis’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, sell-side analysts expect 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 dividend of $0.432 per share. 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 (DPR) is currently 32.52%.

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.