Connable Office Inc. Sells 496 Shares of Zoetis Inc. (NYSE:ZTS)

Connable Office Inc. trimmed its stake in shares of Zoetis Inc. (NYSE:ZTS) by 23.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,590 shares of the company’s stock after selling 496 shares during the quarter. Connable Office Inc.’s holdings in Zoetis were worth $311,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Avantax Advisory Services Inc. boosted its position in Zoetis by 6.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 10,223 shares of the company’s stock valued at $1,730,000 after buying an additional 596 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in shares of Zoetis by 16.0% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,643 shares of the company’s stock worth $786,000 after purchasing an additional 641 shares during the last quarter. Nwam LLC increased its holdings in Zoetis by 16.0% during the 1st quarter. Nwam LLC now owns 4,962 shares of the company’s stock valued at $836,000 after purchasing an additional 684 shares during the period. Wintrust Investments LLC raised its position in Zoetis by 2.1% during the 1st quarter. Wintrust Investments LLC now owns 8,281 shares of the company’s stock valued at $1,401,000 after purchasing an additional 169 shares during the last quarter. Finally, M&G Plc bought a new position in shares of Zoetis during the first quarter valued at approximately $19,819,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Trading Down 1.4 %

Zoetis stock opened at $174.63 on Friday. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a market capitalization of $78.79 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.90. The business’s fifty day simple moving average is $187.61 and its two-hundred day simple moving average is $180.02. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26.

Zoetis (NYSE:ZTS) last posted its earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping 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%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 EPS. As a group, equities analysts predict that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 32.52%.

Analysts Set New Price Targets

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