Maple Capital Management Inc. Purchases 1,253 Shares of Zoetis Inc. (NYSE:ZTS)

by · The Markets Daily

Maple Capital Management Inc. lifted its stake in Zoetis Inc. (NYSE:ZTS – Free Report) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,061 shares of the company’s stock after buying an additional 1,253 shares during the period. Zoetis comprises approximately 1.3% of Maple Capital Management Inc.’s holdings, making the stock its 28th largest holding. Maple Capital Management Inc.’s holdings in Zoetis were worth $16,619,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Webster Bank N. A. raised its holdings in shares of Zoetis by 89.1% in the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. Quarry LP increased its holdings in Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. LRI Investments LLC acquired a new stake in Zoetis during the 1st quarter valued at $43,000. Central Valley Advisors LLC acquired a new stake in Zoetis during the 2nd quarter valued at $49,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Zoetis during the 1st quarter valued at $51,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on ZTS. Argus raised Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Piper Sandler raised their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus raised their price target on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. lifted their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, BTIG Research lifted 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. 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 company has a consensus rating of “Buy” and a consensus target price of $221.44.

Check Out Our Latest Stock Report on Zoetis

Zoetis Price Performance

Shares of NYSE ZTS opened at $189.45 on Tuesday. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The company has a market cap of $86.45 billion, a PE ratio of 36.50, a price-to-earnings-growth ratio of 3.00 and a beta of 0.89. The business’s 50 day moving average price is $189.09 and its two-hundred day moving average price is $177.34. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The company 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 business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.41 earnings per share. On average, analysts predict that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently announced 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. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is presently 33.14%.

Zoetis Profile

(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.

See Also

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