Zoetis Inc. (NYSE:ZTS) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC cut its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,004 shares of the company’s stock after selling 773 shares during the quarter. Perigon Wealth Management LLC’s holdings in Zoetis were worth $4,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Mizuho Securities USA LLC boosted its holdings in Zoetis by 13,726.9% in the third quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock valued at $950,524,000 after purchasing an additional 4,829,815 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Zoetis by 41,235.7% during the third quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock worth $183,652,000 after acquiring an additional 937,700 shares during the period. Assenagon Asset Management S.A. raised its position in Zoetis by 296.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 889,444 shares of the company’s stock valued at $144,917,000 after acquiring an additional 665,331 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Zoetis by 38.3% in the fourth quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company’s stock valued at $336,266,000 after acquiring an additional 572,511 shares during the period. Finally, Holocene Advisors LP purchased a new stake in Zoetis in the 3rd quarter worth approximately $110,809,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZTS has been the subject of several analyst reports. UBS Group initiated coverage on shares of Zoetis in a research note on Monday, December 9th. They issued a “neutral” rating and a $196.00 target price for the company. Leerink Partners began coverage on shares of Zoetis in a research note on Monday, December 2nd. They set an “outperform” rating and a $215.00 target price on the stock. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. increased their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Stifel Nicolaus cut their price objective on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $211.89.

Zoetis Stock Down 1.6 %

NYSE ZTS opened at $170.32 on Wednesday. Zoetis Inc. has a one year low of $144.80 and a one year high of $200.53. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The business has a fifty day moving average price of $170.04 and a 200 day moving average price of $179.71. The company has a market cap of $76.84 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.57 and a beta of 0.89.

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

Zoetis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, January 21st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Tuesday, January 21st. This is a boost from Zoetis’s previous quarterly dividend of $0.43. Zoetis’s dividend payout ratio (DPR) is currently 37.59%.

About Zoetis

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.