Grimes & Company Inc. Buys New Position in Zoetis Inc. (NYSE:ZTS)

Grimes & Company Inc. bought a new stake in Zoetis Inc. (NYSE:ZTS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,347 shares of the company’s stock, valued at approximately $263,000.

Several other institutional investors have also added to or reduced their stakes in ZTS. Webster Bank N. A. lifted its stake in Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after buying an additional 82 shares during the period. Quarry LP lifted its stake in Zoetis by 273.2% in the second 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. LRI Investments LLC acquired a new position in Zoetis in the first quarter valued at approximately $43,000. Central Valley Advisors LLC acquired a new position in Zoetis in the second quarter valued at approximately $49,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Zoetis in the first quarter valued at approximately $51,000. 92.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Zoetis Trading Down 4.0 %

NYSE ZTS opened at $181.52 on Friday. The firm has a market capitalization of $82.24 billion, a P/E ratio of 35.52, a PEG ratio of 2.94 and a beta of 0.89. The business has a fifty day simple moving average of $189.23 and a 200 day simple moving average of $177.58. Zoetis Inc. has a 12 month low of $144.80 and a 12 month 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.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. Zoetis’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 EPS. On average, analysts predict that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is currently 33.86%.

Zoetis Company Profile

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.