Zoetis Inc. (NYSE:ZTS) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Zoetis Inc. (NYSE:ZTS) by 13.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 76,137 shares of the company’s stock after selling 11,565 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Zoetis were worth $14,876,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ZTS. Darwin Wealth Management LLC purchased a new position in shares of Zoetis in the third quarter worth approximately $31,000. First Personal Financial Services purchased a new position in shares of Zoetis in the third quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new position in shares of Zoetis in the third quarter worth approximately $33,000. Quarry LP increased its position in shares of Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after acquiring an additional 153 shares in the last quarter. Finally, Fortitude Family Office LLC increased its position in shares of Zoetis by 1,387.5% in the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after acquiring an additional 222 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Price Performance

NYSE ZTS opened at $175.25 on Friday. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $79.07 billion, a PE ratio of 32.94, a price-to-earnings-growth ratio of 2.69 and a beta of 0.90. The company has a 50 day moving average price of $183.83 and a two-hundred day moving average price of $180.92. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92.

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

Zoetis Announces Dividend

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

Analysts Set New Price Targets

ZTS has been the topic of several analyst reports. Stifel Nicolaus lifted their target price 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. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Piper Sandler boosted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective 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. Finally, BTIG Research boosted their price objective on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target 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.