Zoetis Inc. (NYSE:ZTS) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp trimmed its position in Zoetis Inc. (NYSE:ZTS) by 2.2% during the third quarter, HoldingsChannel.com reports. The fund owned 349,945 shares of the company’s stock after selling 7,998 shares during the quarter. Zoetis makes up 3.7% of AMI Asset Management Corp’s portfolio, making the stock its 7th biggest position. AMI Asset Management Corp’s holdings in Zoetis were worth $68,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in ZTS. Quarry LP increased 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 acquiring an additional 153 shares during the last quarter. LRI Investments LLC bought a new position in Zoetis in the first quarter valued at approximately $43,000. Fortitude Family Office LLC grew its stake in shares of Zoetis by 1,387.5% during the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after buying an additional 222 shares during the last quarter. Central Valley Advisors LLC bought a new stake in shares of Zoetis during the second quarter worth $49,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Zoetis during the second quarter worth $56,000. 92.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. BTIG Research boosted their target price 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 boosted their target price 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 raised shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Piper Sandler boosted their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. boosted their target price 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 analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Performance

Shares of Zoetis stock opened at $181.27 on Wednesday. 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 Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The stock has a market cap of $82.12 billion, a price-to-earnings ratio of 34.93, a P/E/G ratio of 2.79 and a beta of 0.89. The company’s fifty day moving average is $189.02 and its 200 day moving average is $178.25.

Zoetis (NYSE:ZTS) last released 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. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. Zoetis’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 earnings per share. Sell-side analysts forecast that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.95%. Zoetis’s payout ratio is 33.14%.

Zoetis 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.