Empire Life Investments Inc. Has $22.83 Million Position in Zoetis Inc. (NYSE:ZTS)

Empire Life Investments Inc. decreased its stake in Zoetis Inc. (NYSE:ZTS) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,852 shares of the company’s stock after selling 1,440 shares during the period. Zoetis accounts for about 1.4% of Empire Life Investments Inc.’s holdings, making the stock its 25th biggest holding. Empire Life Investments Inc.’s holdings in Zoetis were worth $22,831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mission Wealth Management LP grew its holdings in Zoetis by 33.0% during the 1st quarter. Mission Wealth Management LP now owns 3,439 shares of the company’s stock worth $582,000 after acquiring an additional 853 shares during the period. Choreo LLC lifted its stake in Zoetis by 2.7% in the first quarter. Choreo LLC now owns 5,196 shares of the company’s stock valued at $879,000 after buying an additional 136 shares during the period. BNP Paribas bought a new position in shares of Zoetis during the 1st quarter worth approximately $401,000. Fidelis Capital Partners LLC grew its position in shares of Zoetis by 7.3% during the 1st quarter. Fidelis Capital Partners LLC now owns 5,320 shares of the company’s stock worth $900,000 after buying an additional 360 shares during the period. Finally, Lincoln National Corp increased its stake in Zoetis by 12.3% in the first quarter. Lincoln National Corp now owns 24,303 shares of the company’s stock valued at $4,112,000 after purchasing an additional 2,666 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Trading Up 1.8 %

NYSE:ZTS opened at $181.95 on Friday. Zoetis Inc. has a 12 month low of $144.80 and a 12 month 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. The firm’s 50 day moving average is $188.97 and its 200 day moving average is $178.69. The stock has a market capitalization of $82.43 billion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 2.78 and a beta of 0.90.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 EPS 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 firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts expect that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is presently 33.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped 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 upgraded shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their target price on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Piper Sandler lifted their price target on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, BTIG Research increased their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoetis currently has an average rating of “Buy” and a consensus price target 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.