RiverPark Advisors LLC Sells 391 Shares of Zoetis Inc. (NYSE:ZTS)

RiverPark Advisors LLC cut its holdings in Zoetis Inc. (NYSE:ZTS) by 6.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,094 shares of the company’s stock after selling 391 shares during the period. RiverPark Advisors LLC’s holdings in Zoetis were worth $1,191,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Mizuho Securities USA LLC grew its stake in shares of Zoetis by 13,726.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock valued at $950,524,000 after buying an additional 4,829,815 shares during the period. Bank of New York Mellon Corp increased its holdings in Zoetis by 4.0% during the 2nd 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 in the last quarter. Capital Research Global Investors increased its holdings in Zoetis by 2.3% during the 1st quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock worth $685,416,000 after purchasing an additional 90,330 shares in the last quarter. Clearbridge Investments LLC grew 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 acquiring an additional 166,517 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings 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 acquiring an additional 351,372 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. BTIG Research upped their target price on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Piper Sandler increased their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus increased their target price on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. increased their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $221.44.

Zoetis Stock Up 0.3 %

ZTS opened at $175.14 on Friday. The stock has a market cap of $79.02 billion, a PE ratio of 32.92, 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 Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The business’s fifty day simple moving average is $187.09 and its 200 day simple moving average is $180.23.

Zoetis (NYSE:ZTS) last released 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 business 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 was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 earnings per share. As a group, research analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

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