Charles Schwab Investment Management Inc. Has $655.48 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Charles Schwab Investment Management Inc. raised its position in Zoetis Inc. (NYSE:ZTS) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,354,907 shares of the company’s stock after acquiring an additional 6,300 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Zoetis were worth $655,482,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Mizuho Securities USA LLC boosted its stake in shares of Zoetis by 13,726.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock worth $950,524,000 after acquiring an additional 4,829,815 shares during the period. Bank of New York Mellon Corp boosted its position in Zoetis by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock worth $812,695,000 after purchasing an additional 178,303 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Zoetis by 5.8% in the second quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock valued at $527,774,000 after purchasing an additional 166,517 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Zoetis by 17.3% in the third quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company’s stock valued at $464,497,000 after purchasing an additional 351,372 shares during the period. Finally, Sarasin & Partners LLP lifted its stake in shares of Zoetis by 546.3% during the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after buying an additional 1,904,899 shares during the last quarter. 92.80% of the stock is owned by institutional investors.

Zoetis Stock Up 0.6 %

Shares of NYSE ZTS opened at $176.71 on Friday. The business has a 50-day simple moving average of $185.90 and a two-hundred day simple moving average of $180.45. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a market cap of $79.73 billion, a P/E ratio of 33.22, a P/E/G ratio of 2.69 and a beta of 0.90. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26.

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

Zoetis Dividend Announcement

The firm also recently declared 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 payout ratio is 32.52%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ZTS. JPMorgan Chase & Co. increased 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. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Piper Sandler lifted their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. BTIG Research upped their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus boosted their price objective on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. 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, the stock has a consensus rating of “Buy” and an average 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.