Reynders McVeigh Capital Management LLC Sells 405 Shares of Zoetis Inc. (NYSE:ZTS)

Reynders McVeigh Capital Management LLC lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,581 shares of the company’s stock after selling 405 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Zoetis were worth $1,090,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Menard Financial Group LLC purchased a new stake in Zoetis during the 3rd quarter valued at $343,000. Ingalls & Snyder LLC raised its holdings in Zoetis by 1.5% during the 3rd quarter. Ingalls & Snyder LLC now owns 13,299 shares of the company’s stock valued at $2,598,000 after buying an additional 194 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Zoetis by 1.3% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,271 shares of the company’s stock valued at $1,421,000 after buying an additional 92 shares during the period. Investment Management Corp of Ontario raised its holdings in Zoetis by 176.9% during the 3rd quarter. Investment Management Corp of Ontario now owns 40,589 shares of the company’s stock valued at $7,930,000 after buying an additional 25,931 shares during the period. Finally, Hilltop Holdings Inc. raised its holdings in Zoetis by 1,282.0% during the 3rd quarter. Hilltop Holdings Inc. now owns 38,944 shares of the company’s stock valued at $7,609,000 after buying an additional 36,126 shares during the period. Institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ZTS. Piper Sandler upped their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research report on Monday. Stifel Nicolaus upped their price objective on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Argus raised Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, BTIG Research increased their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Eleven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $220.80.

Zoetis Price Performance

NYSE:ZTS opened at $175.32 on Thursday. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. 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 company has a market capitalization of $79.10 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.89 and a beta of 0.89. The stock’s fifty day moving average is $182.84 and its two-hundred day moving average is $180.98.

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

Zoetis Announces Dividend

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

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.