Zoetis Inc. (NYSE:ZTS) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. trimmed its holdings in Zoetis Inc. (NYSE:ZTS) by 17.3% during the third quarter, HoldingsChannel.com reports. The firm owned 38,106 shares of the company’s stock after selling 7,987 shares during the period. First Horizon Advisors Inc.’s holdings in Zoetis were worth $7,445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ZTS. Axxcess Wealth Management LLC increased its position in shares of Zoetis by 17.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 9,826 shares of the company’s stock worth $1,663,000 after purchasing an additional 1,458 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Zoetis by 4.4% in the first quarter. Advisors Asset Management Inc. now owns 16,168 shares of the company’s stock worth $2,736,000 after purchasing an additional 678 shares during the period. Toronto Dominion Bank grew its position in shares of Zoetis by 17.5% during the 1st quarter. Toronto Dominion Bank now owns 308,667 shares of the company’s stock valued at $52,230,000 after buying an additional 46,001 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Zoetis by 2.3% during the first quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock valued at $685,416,000 after purchasing an additional 90,330 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its position in shares of Zoetis by 4.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 163,965 shares of the company’s stock worth $27,745,000 after purchasing an additional 6,494 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Price Performance

NYSE ZTS opened at $175.67 on Thursday. The stock has a market capitalization of $79.26 billion, a P/E ratio of 33.02, a P/E/G ratio of 2.69 and a beta of 0.90. 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 business’s fifty day moving average is $186.18 and its two-hundred day moving average is $180.47. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92.

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

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. Zoetis’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Upgrades and Downgrades

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

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.