TIAA Trust National Association Reduces Stock Position in Zoetis Inc. $ZTS

TIAA Trust National Association lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 18.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,996 shares of the company’s stock after selling 4,419 shares during the period. TIAA Trust National Association’s holdings in Zoetis were worth $2,962,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nova Wealth Management Inc. purchased a new stake in shares of Zoetis in the first quarter worth $25,000. 1248 Management LLC purchased a new position in shares of Zoetis during the first quarter worth about $27,000. Saudi Central Bank purchased a new position in shares of Zoetis during the first quarter worth about $29,000. Cornerstone Planning Group LLC grew its holdings in shares of Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Finally, REAP Financial Group LLC grew its holdings in shares of Zoetis by 201.5% during the second quarter. REAP Financial Group LLC now owns 196 shares of the company’s stock worth $31,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 0.2%

NYSE ZTS opened at $144.43 on Tuesday. The stock’s 50-day simple moving average is $146.94 and its two-hundred day simple moving average is $153.41. Zoetis Inc. has a twelve month low of $139.34 and a twelve month high of $181.85. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $64.01 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.31 and a beta of 0.90.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.14. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the firm earned $1.56 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Friday, October 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, October 31st. Zoetis’s dividend payout ratio (DPR) is 34.42%.

Analyst Ratings Changes

Several research analysts have recently commented on ZTS shares. Piper Sandler boosted their price objective on Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, August 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Zoetis in a report on Wednesday, October 8th. Argus restated a “buy” rating and set a $190.00 price target on shares of Zoetis in a research report on Tuesday, September 9th. UBS Group lowered their price target on Zoetis from $165.00 to $158.00 and set a “neutral” rating on the stock in a research report on Monday, October 20th. Finally, Leerink Partners downgraded Zoetis from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Zoetis has a consensus rating of “Hold” and a consensus target price of $195.00.

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.