Montecito Bank & Trust Decreases Position in Zoetis Inc. (NYSE:ZTS)

Montecito Bank & Trust lessened its holdings in Zoetis Inc. (NYSE:ZTS) by 12.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,365 shares of the company’s stock after selling 190 shares during the quarter. Montecito Bank & Trust’s holdings in Zoetis were worth $267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP boosted its position in Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after buying an additional 153 shares during the period. Fortitude Family Office LLC lifted its position in shares of Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after purchasing an additional 222 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Zoetis during the 1st quarter worth $43,000. Central Valley Advisors LLC purchased a new stake in shares of Zoetis during the 2nd quarter worth $49,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Zoetis during the 3rd quarter worth $59,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 2.3 %

NYSE ZTS opened at $174.34 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.09 and a current ratio of 3.69. The firm has a market cap of $78.65 billion, a PE ratio of 32.77, a P/E/G ratio of 2.61 and a beta of 0.90. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The firm’s fifty day moving average is $188.46 and its two-hundred day moving average is $179.17.

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

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.99%. Zoetis’s dividend payout ratio (DPR) is 32.52%.

Wall Street Analyst Weigh In

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