Associated Banc Corp Sells 507 Shares of Zoetis Inc. (NYSE:ZTS)

Associated Banc Corp lessened its stake in shares of Zoetis Inc. (NYSE:ZTS) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,262 shares of the company’s stock after selling 507 shares during the quarter. Associated Banc Corp’s holdings in Zoetis were worth $9,625,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ZTS. Darwin Wealth Management LLC bought a new position in shares of Zoetis in the 3rd quarter worth approximately $31,000. First Personal Financial Services bought a new position in Zoetis in the third quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new position in shares of Zoetis during the 3rd quarter worth $33,000. Quarry LP grew its position in shares of Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after acquiring an additional 153 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of Zoetis in the 1st quarter worth $43,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ZTS. Piper Sandler lifted their price target on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. BTIG Research upped their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus upped 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. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $221.44.

Zoetis Price Performance

Shares of NYSE:ZTS traded up $0.73 on Monday, reaching $177.69. The company’s stock had a trading volume of 37,955 shares, compared to its average volume of 2,531,349. The company has a 50-day simple moving average of $185.62 and a 200 day simple moving average of $180.72. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The company has a market cap of $80.17 billion, a P/E ratio of 33.26, a PEG ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.12. The company had revenue of $2.40 billion for 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 in the previous year, the firm posted $1.36 earnings per share. As a group, equities research analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed 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. This represents a $1.73 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is 32.52%.

Zoetis 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.