Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Zoetis Inc. (NYSE:ZTS)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Zoetis Inc. (NYSE:ZTS) by 0.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,112,662 shares of the company’s stock after acquiring an additional 7,412 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Zoetis worth $217,392,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Asset Dedication LLC grew its stake in shares of Zoetis by 4.8% in the second quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock worth $204,000 after acquiring an additional 54 shares in the last quarter. Forza Wealth Management LLC increased its holdings in Zoetis by 1.8% during the 2nd quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock worth $574,000 after purchasing an additional 58 shares during the period. Cherry Creek Investment Advisors Inc. raised its position in Zoetis by 2.0% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock valued at $590,000 after purchasing an additional 58 shares in the last quarter. L. Roy Papp & Associates LLP boosted its stake in shares of Zoetis by 2.8% in the 2nd quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock valued at $385,000 after buying an additional 60 shares during the period. Finally, Grove Bank & Trust grew its position in shares of Zoetis by 0.5% during the third quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock worth $2,298,000 after buying an additional 61 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Price Performance

ZTS stock opened at $173.95 on Wednesday. The company has a market capitalization of $78.48 billion, a P/E ratio of 32.70, a PEG ratio of 2.70 and a beta of 0.90. The business has a 50 day simple moving average of $188.00 and a 200-day simple moving average of $179.93. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data 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 company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $1.36 EPS. As a group, equities analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Announces Dividend

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

Analyst Upgrades and Downgrades

ZTS has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. BTIG Research boosted their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Stifel Nicolaus upped their price objective on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Piper Sandler raised their target price on Zoetis from $195.00 to $210.00 and gave the stock 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $221.44.

Zoetis Company 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.