Bank of Montreal Can Sells 136,525 Shares of Zoetis Inc. (NYSE:ZTS)

Bank of Montreal Can lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 12.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 984,606 shares of the company’s stock after selling 136,525 shares during the period. Bank of Montreal Can owned about 0.22% of Zoetis worth $191,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Mirabella Financial Services LLP bought a new position in shares of Zoetis during the third quarter valued at approximately $11,880,000. Hancock Whitney Corp raised its holdings in Zoetis by 0.3% in the 3rd quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock worth $3,628,000 after purchasing an additional 61 shares in the last quarter. Boston Family Office LLC purchased a new stake in shares of Zoetis in the 3rd quarter worth about $6,622,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Zoetis by 237.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 2,159 shares of the company’s stock valued at $422,000 after purchasing an additional 1,519 shares in the last quarter. Finally, Davis R M Inc. increased its position in shares of Zoetis by 0.6% during the third quarter. Davis R M Inc. now owns 133,115 shares of the company’s stock valued at $26,008,000 after buying an additional 805 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Up 1.0 %

ZTS opened at $178.70 on Tuesday. The stock has a market capitalization of $80.62 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average price of $185.31 and a 200-day moving average price of $180.79.

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

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is currently 32.52%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ZTS. BTIG Research lifted their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Stifel Nicolaus increased 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. JPMorgan Chase & Co. boosted their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Piper Sandler increased their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. 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, the stock currently has an average rating of “Buy” and an average price target of $221.44.

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.