Valley National Advisers Inc. Sells 81 Shares of Zoetis Inc. (NYSE:ZTS)

Valley National Advisers Inc. reduced its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 18.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 349 shares of the company’s stock after selling 81 shares during the quarter. Valley National Advisers Inc.’s holdings in Zoetis were worth $68,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Quarry LP lifted its stake in Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after acquiring an additional 153 shares during the period. LRI Investments LLC bought a new stake in shares of Zoetis in the first quarter worth approximately $43,000. Central Valley Advisors LLC purchased a new position in shares of Zoetis during the second quarter valued at approximately $49,000. Future Financial Wealth Managment LLC bought a new position in Zoetis during the third quarter valued at approximately $59,000. Finally, EdgeRock Capital LLC purchased a new stake in Zoetis in the second quarter worth approximately $56,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZTS. 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 note on Wednesday, August 14th. Stifel Nicolaus lifted their price objective on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted 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. Finally, BTIG Research upped their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Zoetis currently has a consensus rating of “Buy” and an average price target of $221.44.

Zoetis Trading Up 1.5 %

Shares of Zoetis stock opened at $182.76 on Tuesday. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The company has a market capitalization of $82.80 billion, a P/E ratio of 35.77, a P/E/G ratio of 2.79 and a beta of 0.89. The company has a fifty day moving average of $189.07 and a 200 day moving average of $178.03.

Zoetis (NYSE:ZTS) last issued 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. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company earned $1.41 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business 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 $0.432 dividend. 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 0.95%. Zoetis’s dividend payout ratio is currently 33.86%.

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.