Logan Capital Management Inc. Cuts Stock Position in Zoetis Inc. (NYSE:ZTS)

Logan Capital Management Inc. decreased its stake in shares of Zoetis Inc. (NYSE:ZTS) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,203 shares of the company’s stock after selling 2,602 shares during the quarter. Zoetis comprises about 0.8% of Logan Capital Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Logan Capital Management Inc.’s holdings in Zoetis were worth $19,578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ZTS. Darwin Wealth Management LLC bought a new position in Zoetis in the 3rd quarter worth about $31,000. First Personal Financial Services purchased a new position in Zoetis in the third quarter worth about $33,000. Capital Performance Advisors LLP bought a new position in shares of Zoetis in the third quarter worth approximately $33,000. Dunhill Financial LLC grew its holdings in shares of Zoetis by 80.6% during the third quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after buying an additional 75 shares during the last quarter. Finally, Quarry LP increased its position in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after acquiring an additional 153 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ZTS shares. Stifel Nicolaus increased their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. UBS Group began coverage on Zoetis in a research report on Monday. They issued a “neutral” rating and a $196.00 target price for the company. Leerink Partners started coverage on shares of Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price target for the company. Leerink Partnrs upgraded shares of Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. boosted their target price 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. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $216.70.

Zoetis Price Performance

Shares of ZTS traded up $1.26 during mid-day trading on Friday, reaching $180.10. The stock had a trading volume of 182,972 shares, compared to its average volume of 2,526,080. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. 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 firm has a market cap of $81.25 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 2.89 and a beta of 0.89. The business has a fifty day moving average of $180.82 and a 200 day moving average of $181.12.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The firm 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%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 earnings per share. Equities analysts predict that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.11%. This is an increase from Zoetis’s previous quarterly dividend of $0.43. Zoetis’s payout ratio is 32.33%.

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.