Allspring Global Investments Holdings LLC Boosts Holdings in Zoetis Inc. (NYSE:ZTS)

Allspring Global Investments Holdings LLC raised its stake in Zoetis Inc. (NYSE:ZTS) by 8.0% during the third quarter, Holdings Channel reports. The fund owned 55,696 shares of the company’s stock after buying an additional 4,107 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Zoetis were worth $10,882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Webster Bank N. A. increased its stake in shares of Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares in the last quarter. Quarry LP grew its stake in Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after buying an additional 153 shares in the last quarter. LRI Investments LLC bought a new stake in Zoetis during the 1st quarter valued at $43,000. Central Valley Advisors LLC purchased a new stake in shares of Zoetis during the second quarter worth $49,000. Finally, EdgeRock Capital LLC bought a new position in shares of Zoetis in the second quarter worth $56,000. 92.80% of the stock is owned by institutional investors.

Zoetis Stock Down 0.8 %

ZTS opened at $180.01 on Friday. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The business’s fifty day simple moving average is $189.10 and its 200 day simple moving average is $177.71. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The stock has a market cap of $82.14 billion, a PE ratio of 34.68, a P/E/G ratio of 2.94 and a beta of 0.89.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. Zoetis’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. As a group, research analysts expect that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm 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 dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 33.14%.

Wall Street Analysts Forecast Growth

ZTS has been the topic of a number of recent research reports. BTIG Research increased their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus raised 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. JPMorgan Chase & Co. upped their target price on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Finally, Piper Sandler upped their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Zoetis has a consensus rating of “Buy” and an average price target of $221.44.

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.