CIBC Asset Management Inc Has $37.34 Million Stake in Zoetis Inc. (NYSE:ZTS)

CIBC Asset Management Inc lifted its stake in Zoetis Inc. (NYSE:ZTS) by 2.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 191,319 shares of the company’s stock after acquiring an additional 4,058 shares during the period. CIBC Asset Management Inc’s holdings in Zoetis were worth $37,339,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ZTS. First Personal Financial Services acquired a new position in shares of Zoetis during the 3rd quarter worth about $33,000. Capital Performance Advisors LLP acquired a new position in shares of Zoetis during the third quarter worth approximately $33,000. Quarry LP boosted its position in shares of Zoetis by 273.2% in the second 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. Fortitude Family Office LLC grew its stake in shares of Zoetis by 1,387.5% in the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after acquiring an additional 222 shares during the last quarter. Finally, LRI Investments LLC bought a new position in Zoetis during the first quarter worth $43,000. Institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research 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. Piper Sandler upped their price target on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. 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. Finally, Stifel Nicolaus upped their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $221.44.

Zoetis Stock Up 0.3 %

ZTS opened at $175.12 on Friday. The firm has a market cap of $79.01 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 2.68 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The firm’s 50-day simple moving average is $187.37 and its 200-day simple moving average is $179.98. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data 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. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Dividend Announcement

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

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.