Fisher Asset Management LLC Sells 2,066 Shares of Zoetis Inc. (NYSE:ZTS)

Fisher Asset Management LLC lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 51.5% during the third quarter, HoldingsChannel.com reports. The firm owned 1,948 shares of the company’s stock after selling 2,066 shares during the quarter. Fisher Asset Management LLC’s holdings in Zoetis were worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Darwin Wealth Management LLC bought a new position in Zoetis during the 3rd quarter worth $31,000. First Personal Financial Services bought a new position in shares of Zoetis in the third quarter worth $33,000. Capital Performance Advisors LLP bought a new position in shares of Zoetis in the third quarter worth $33,000. Quarry LP raised 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 purchasing an additional 153 shares in the last quarter. Finally, Fortitude Family Office LLC grew its stake in 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 in the last quarter. 92.80% of the stock is owned by institutional investors.

Zoetis Trading Down 0.8 %

NYSE ZTS opened at $175.25 on Friday. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The business’s fifty day moving average is $183.83 and its 200 day moving average is $180.92. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The company has a market cap of $79.07 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90.

Zoetis (NYSE:ZTS) last released 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. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 earnings per share. As a group, sell-side analysts expect that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is currently 32.52%.

Analysts Set New Price Targets

ZTS has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus boosted their price objective on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research lifted 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. upped their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average 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.