1,330 Shares in Zoetis Inc. (NYSE:ZTS) Purchased by Spinnaker Trust

Spinnaker Trust acquired a new stake in shares of Zoetis Inc. (NYSE:ZTS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,330 shares of the company’s stock, valued at approximately $260,000.

Several other institutional investors have also modified their holdings of the stock. Asset Dedication LLC lifted its stake in Zoetis by 4.8% during the 2nd quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock valued at $204,000 after acquiring an additional 54 shares during the period. Forza Wealth Management LLC raised its holdings in shares of Zoetis by 1.8% during the second quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock worth $574,000 after purchasing an additional 58 shares during the last quarter. Cherry Creek Investment Advisors Inc. lifted its position in Zoetis by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock valued at $590,000 after purchasing an additional 58 shares during the period. L. Roy Papp & Associates LLP boosted its holdings in Zoetis by 2.8% in the second quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock valued at $385,000 after purchasing an additional 60 shares during the last quarter. Finally, Grove Bank & Trust grew its position in Zoetis by 0.5% during the 3rd quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock worth $2,298,000 after purchasing an additional 61 shares during the period. 92.80% of the stock is owned by institutional investors.

Zoetis Trading Down 2.8 %

Shares of Zoetis stock opened at $170.37 on Thursday. 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 Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The firm has a market capitalization of $77.19 billion, a PE ratio of 32.02, a P/E/G ratio of 2.68 and a beta of 0.90. The firm’s 50-day moving average price is $188.46 and its 200 day moving average price is $179.17.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a return on equity of 52.59% and a net margin of 26.55%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Zoetis Inc. will post 5.91 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is 32.33%.

Analyst Ratings Changes

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