Portside Wealth Group LLC Sells 266 Shares of Zoetis Inc. (NYSE:ZTS)

Portside Wealth Group LLC lessened its holdings in Zoetis Inc. (NYSE:ZTS) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,296 shares of the company’s stock after selling 266 shares during the period. Portside Wealth Group LLC’s holdings in Zoetis were worth $4,356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ZTS. Envestnet Portfolio Solutions Inc. lifted its stake in Zoetis by 14.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 67,411 shares of the company’s stock worth $11,407,000 after acquiring an additional 8,427 shares during the period. Empowered Funds LLC increased its holdings in Zoetis by 26.3% in the 1st quarter. Empowered Funds LLC now owns 8,017 shares of the company’s stock worth $1,357,000 after acquiring an additional 1,671 shares in the last quarter. Retirement Planning Co of New England Inc. increased its holdings in Zoetis by 13.1% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 1,980 shares of the company’s stock worth $335,000 after acquiring an additional 230 shares in the last quarter. Lipe & Dalton grew its holdings in shares of Zoetis by 23.4% during the first quarter. Lipe & Dalton now owns 5,542 shares of the company’s stock worth $938,000 after buying an additional 1,051 shares in the last quarter. Finally, Highland Capital Management LLC grew its holdings in shares of Zoetis by 0.8% in the first quarter. Highland Capital Management LLC now owns 39,883 shares of the company’s stock valued at $6,749,000 after purchasing an additional 312 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. JPMorgan Chase & Co. upped 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 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. Piper Sandler increased their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus increased their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Zoetis presently has a consensus rating of “Buy” and a consensus price target of $221.44.

Zoetis Stock Up 2.3 %

ZTS stock opened at $174.34 on Friday. The company’s 50 day moving average price is $188.46 and its 200 day moving average price is $179.17. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.09 and a current ratio of 3.69. 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 capitalization of $78.65 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.61 and a beta of 0.90.

Zoetis (NYSE:ZTS) last released 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. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 earnings per share. On average, equities research analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

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