UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 194,542 Shares of Zoetis Inc. (NYSE:ZTS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,896,106 shares of the company’s stock after purchasing an additional 194,542 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.86% of Zoetis worth $761,221,000 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 the business. Public Sector Pension Investment Board lifted its stake in Zoetis by 947.3% during the third quarter. Public Sector Pension Investment Board now owns 180,981 shares of the company’s stock worth $35,360,000 after purchasing an additional 163,700 shares during the last quarter. Fiduciary Trust Co lifted its stake in Zoetis by 6.7% during the third quarter. Fiduciary Trust Co now owns 56,192 shares of the company’s stock worth $10,979,000 after purchasing an additional 3,545 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Zoetis by 8.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 204,920 shares of the company’s stock worth $40,037,000 after purchasing an additional 16,421 shares during the last quarter. First Commonwealth Financial Corp PA lifted its stake in Zoetis by 1.6% during the third quarter. First Commonwealth Financial Corp PA now owns 4,943 shares of the company’s stock worth $966,000 after purchasing an additional 76 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its stake in Zoetis by 16.3% during the third quarter. CreativeOne Wealth LLC now owns 14,408 shares of the company’s stock worth $2,815,000 after purchasing an additional 2,023 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Zoetis Stock Performance

NYSE ZTS opened at $176.74 on Thursday. The company has a market capitalization of $79.74 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 2.70 and a beta of 0.90. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The stock has a fifty day simple moving average of $184.51 and a 200 day simple moving average of $180.81. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the business posted $1.36 earnings per share. Zoetis’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts expect that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. Zoetis’s payout ratio is currently 32.52%.

Analyst Upgrades and Downgrades

ZTS has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler increased their price target on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. BTIG Research increased their price target on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. increased their price target on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoetis presently has an average rating of “Buy” and a consensus price target of $221.44.

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.