Cabot Wealth Management Inc. Has $11.77 Million Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Cabot Wealth Management Inc. lifted its stake in shares of Zoetis Inc. (NYSE:ZTS) by 0.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,236 shares of the company’s stock after purchasing an additional 415 shares during the period. Zoetis makes up about 1.5% of Cabot Wealth Management Inc.’s holdings, making the stock its 28th biggest position. Cabot Wealth Management Inc.’s holdings in Zoetis were worth $11,769,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Trust Co. of Oklahoma raised its position in Zoetis by 10.5% during the third quarter. Trust Co. of Oklahoma now owns 8,356 shares of the company’s stock valued at $1,633,000 after buying an additional 796 shares during the period. NBC Securities Inc. raised its position in Zoetis by 11.9% during the third quarter. NBC Securities Inc. now owns 10,959 shares of the company’s stock valued at $2,141,000 after buying an additional 1,162 shares during the period. Creative Planning grew its stake in Zoetis by 8.6% in the third quarter. Creative Planning now owns 90,401 shares of the company’s stock valued at $17,663,000 after purchasing an additional 7,170 shares in the last quarter. CX Institutional grew its stake in Zoetis by 6.3% in the third quarter. CX Institutional now owns 8,142 shares of the company’s stock valued at $1,591,000 after purchasing an additional 482 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Zoetis in the third quarter valued at about $213,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Performance

NYSE:ZTS traded down $0.26 during mid-day trading on Tuesday, hitting $192.39. 1,414,541 shares of the company’s stock traded hands, compared to its average volume of 2,540,237. The firm has a 50 day moving average of $188.43 and a two-hundred day moving average of $176.42. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The firm has a market capitalization of $87.79 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 2.95 and a beta of 0.89. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 EPS. On average, equities analysts forecast that Zoetis Inc. will post 5.83 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. Shareholders of record on Thursday, October 31st will be issued a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.90%. Zoetis’s dividend payout ratio (DPR) is 33.14%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ZTS shares. Piper Sandler boosted their target price on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus boosted 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. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, 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. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Zoetis currently has a consensus 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.