Trust Co. of Toledo NA OH Boosts Holdings in Zoetis Inc. (NYSE:ZTS)

Trust Co. of Toledo NA OH increased its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 6.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,361 shares of the company’s stock after buying an additional 88 shares during the period. Trust Co. of Toledo NA OH’s holdings in Zoetis were worth $236,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Zoetis by 1.0% in the first quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock valued at $6,895,235,000 after acquiring an additional 414,605 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Zoetis by 31.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock valued at $2,707,262,000 after buying an additional 3,244,074 shares during the period. Capital World Investors grew its position in shares of Zoetis by 0.6% during the fourth quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock worth $1,788,988,000 after buying an additional 57,798 shares in the last quarter. Norges Bank purchased a new stake in shares of Zoetis during the fourth quarter worth approximately $980,646,000. Finally, Bank of New York Mellon Corp raised its holdings in Zoetis by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 4,509,599 shares of the company’s stock valued at $763,069,000 after acquiring an additional 151,689 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

Shares of ZTS stock traded up $10.47 during trading hours on Tuesday, hitting $185.29. The stock had a trading volume of 3,740,654 shares, compared to its average volume of 2,808,195. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. The firm has a market capitalization of $84.55 billion, a PE ratio of 36.44, a PEG ratio of 2.80 and a beta of 0.86. The stock’s 50 day moving average is $175.53 and its 200 day moving average is $175.38. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be paid a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

Several research firms have commented on ZTS. Piper Sandler reiterated an “overweight” rating and set a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. BTIG Research started coverage on Zoetis in a research note on Thursday, July 25th. They issued a “buy” rating and a $220.00 price target on the stock. Barclays decreased their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Stifel Nicolaus increased their price objective on Zoetis from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday. Finally, HSBC decreased their target price on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $214.89.

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.