Baker Tilly Wealth Management LLC Sells 2,389 Shares of Zoetis Inc. (NYSE:ZTS)

Baker Tilly Wealth Management LLC lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 58.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,724 shares of the company’s stock after selling 2,389 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Zoetis were worth $337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Zoetis by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock worth $6,895,235,000 after buying an additional 414,605 shares during the period. Bank of New York Mellon Corp boosted its holdings in Zoetis by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock valued at $812,695,000 after acquiring an additional 178,303 shares during the period. Capital Research Global Investors grew its position in shares of Zoetis by 2.3% in the first quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock valued at $685,416,000 after purchasing an additional 90,330 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Zoetis by 5.8% during the 2nd quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock worth $527,774,000 after purchasing an additional 166,517 shares during the last quarter. Finally, Sarasin & Partners LLP boosted its stake in Zoetis by 546.3% during the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after purchasing an additional 1,904,899 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Up 1.5 %

Shares of NYSE ZTS opened at $182.76 on Tuesday. Zoetis Inc. has a 52-week low of $144.80 and a 52-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 business has a fifty day moving average of $189.07 and a two-hundred day moving average of $178.03. The stock has a market cap of $82.80 billion, a PE ratio of 35.77, a PEG ratio of 2.79 and a beta of 0.89.

Zoetis (NYSE:ZTS) last announced its quarterly 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. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $1.41 EPS. As a group, equities research analysts expect that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently declared 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. The ex-dividend date 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 33.86%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler upped their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research lifted 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 boosted their price objective on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. raised their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price 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.