My Legacy Advisors LLC Sells 616 Shares of Zoetis Inc. (NYSE:ZTS)

by · The Markets Daily

My Legacy Advisors LLC trimmed its position in shares of Zoetis Inc. (NYSE:ZTS – Free Report) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,677 shares of the company’s stock after selling 616 shares during the period. My Legacy Advisors LLC’s holdings in Zoetis were worth $718,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZTS. Sarasin & Partners LLP increased its stake in Zoetis by 546.3% during the second quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after acquiring an additional 1,904,899 shares during the period. Swedbank AB bought a new stake in shares of Zoetis in the 1st quarter valued at approximately $210,815,000. Marshall Wace LLP grew its stake in shares of Zoetis by 7,608.6% in the 2nd quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock valued at $144,874,000 after purchasing an additional 824,843 shares during the period. Vanguard Group Inc. grew its stake in shares of Zoetis by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock valued at $6,895,235,000 after purchasing an additional 414,605 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Zoetis by 178.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 639,352 shares of the company’s stock valued at $108,185,000 after purchasing an additional 409,522 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on ZTS. JPMorgan Chase & Co. upped their price objective on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. BTIG Research boosted their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Stifel Nicolaus boosted their target price on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Sandler boosted their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $221.44.

Check Out Our Latest Analysis on ZTS

Zoetis Stock Down 0.4 %

Shares of Zoetis stock traded down $0.71 during trading hours on Tuesday, reaching $188.74. 660,276 shares of the company’s stock were exchanged, compared to its average volume of 2,509,783. The company has a 50 day moving average of $189.09 and a two-hundred day moving average of $177.34. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The stock has a market cap of $86.12 billion, a P/E ratio of 36.20, a P/E/G ratio of 3.00 and a beta of 0.89.

Zoetis (NYSE:ZTS – Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the business posted $1.41 EPS. Zoetis’s revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts forecast that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.92%. Zoetis’s dividend payout ratio (DPR) is presently 33.14%.

About Zoetis

(Free Report)

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.

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