Zoetis Inc. (NYSE:ZTS) Shares Bought by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lifted its position in shares of Zoetis Inc. (NYSE:ZTS) by 27.9% during the fourth quarter, Holdings Channel reports. The firm owned 7,236 shares of the company’s stock after acquiring an additional 1,580 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Zoetis were worth $1,179,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in ZTS. Pensionfund Sabic raised its holdings in shares of Zoetis by 55.6% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the company’s stock valued at $1,825,000 after buying an additional 4,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Zoetis by 10.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company’s stock valued at $569,834,000 after acquiring an additional 279,092 shares during the last quarter. Simplify Asset Management Inc. acquired a new stake in Zoetis during the 3rd quarter worth approximately $11,684,000. B&L Asset Management LLC acquired a new stake in Zoetis during the 3rd quarter worth approximately $563,000. Finally, Geode Capital Management LLC increased its holdings in shares of Zoetis by 1.8% in the third quarter. Geode Capital Management LLC now owns 10,427,760 shares of the company’s stock valued at $2,030,813,000 after purchasing an additional 185,364 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ZTS. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group assumed 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. Stifel Nicolaus boosted their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. raised their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Leerink Partners assumed coverage on Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 target price on the stock. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Zoetis has an average rating of “Buy” and an average price target of $215.22.

Zoetis Price Performance

Shares of NYSE:ZTS opened at $165.76 on Tuesday. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $200.53. The firm has a market capitalization of $74.79 billion, a price-to-earnings ratio of 31.16, a price-to-earnings-growth ratio of 2.91 and a beta of 0.89. The business’s 50 day simple moving average is $173.07 and its 200-day simple moving average is $180.47. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27.

Zoetis (NYSE:ZTS) last posted its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.12. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. Zoetis’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 earnings per share. As a group, equities analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.21%. This is a boost from Zoetis’s previous quarterly dividend of $0.43. Zoetis’s payout ratio is presently 37.59%.

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.