South Street Advisors LLC Has $310,000 Stock Holdings in Zoetis Inc. (NYSE:ZTS)

South Street Advisors LLC trimmed its position in Zoetis Inc. (NYSE:ZTS) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,587 shares of the company’s stock after selling 72 shares during the quarter. South Street Advisors LLC’s holdings in Zoetis were worth $310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&G Plc acquired a new position in Zoetis in the 1st quarter valued at $19,819,000. Cetera Investment Advisers lifted its position in shares of Zoetis by 275.2% during the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock valued at $16,259,000 after acquiring an additional 70,476 shares during the period. Acadian Asset Management LLC lifted its position in shares of Zoetis by 49.6% during the 1st quarter. Acadian Asset Management LLC now owns 25,051 shares of the company’s stock valued at $4,235,000 after acquiring an additional 8,302 shares during the period. Soltis Investment Advisors LLC bought a new stake in shares of Zoetis during the 1st quarter valued at $688,000. Finally, Bank Pictet & Cie Asia Ltd. lifted its position in shares of Zoetis by 41.0% during the 2nd quarter. Bank Pictet & Cie Asia Ltd. now owns 37,500 shares of the company’s stock valued at $6,501,000 after acquiring an additional 10,900 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. BTIG Research upped their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Stifel Nicolaus upped their price objective on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Piper Sandler upped their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $221.44.

Zoetis Price Performance

ZTS traded up $0.51 on Friday, reaching $175.14. The stock had a trading volume of 3,426,474 shares, compared to its average volume of 2,672,116. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The firm has a 50-day moving average of $187.09 and a 200-day moving average of $180.08. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $79.02 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 2.68 and a beta of 0.90.

Zoetis (NYSE:ZTS) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 earnings per share. As a group, sell-side analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Dividend Announcement

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

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.