Zoetis Inc. $ZTS Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Zoetis Inc. (NYSE:ZTS) by 7.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,917,428 shares of the company’s stock after selling 386,738 shares during the quarter. Bank of New York Mellon Corp’s holdings in Zoetis were worth $766,873,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ZTS. Brighton Jones LLC lifted its stake in Zoetis by 180.4% during the fourth quarter. Brighton Jones LLC now owns 4,629 shares of the company’s stock valued at $754,000 after buying an additional 2,978 shares in the last quarter. Mutual Advisors LLC lifted its stake in Zoetis by 48.2% during the first quarter. Mutual Advisors LLC now owns 5,470 shares of the company’s stock valued at $839,000 after buying an additional 1,779 shares in the last quarter. Capital Investment Advisory Services LLC lifted its position in shares of Zoetis by 37.4% in the first quarter. Capital Investment Advisory Services LLC now owns 2,501 shares of the company’s stock worth $412,000 after purchasing an additional 681 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Zoetis by 20.6% in the first quarter. Concurrent Investment Advisors LLC now owns 17,806 shares of the company’s stock worth $2,932,000 after purchasing an additional 3,041 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Zoetis by 1.9% in the first quarter. Envestnet Asset Management Inc. now owns 2,171,951 shares of the company’s stock worth $357,612,000 after purchasing an additional 40,380 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on ZTS. Leerink Partners lowered shares of Zoetis from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Piper Sandler increased their price target on shares of Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th. UBS Group reduced their price target on shares of Zoetis from $165.00 to $158.00 and set a “neutral” rating for the company in a research report on Monday, October 20th. Leerink Partnrs lowered shares of Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Finally, Argus reissued a “buy” rating and issued a $190.00 price target on shares of Zoetis in a research report on Tuesday, September 9th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $195.00.

Zoetis Price Performance

Shares of ZTS opened at $144.43 on Tuesday. The firm has a market cap of $64.01 billion, a PE ratio of 24.86, a PEG ratio of 2.31 and a beta of 0.90. The firm’s 50 day moving average price is $146.94 and its 200 day moving average price is $153.41. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. Zoetis Inc. has a twelve month low of $139.34 and a twelve month high of $181.85.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.14. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.56 earnings per share. As a group, research analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, October 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, October 31st. Zoetis’s dividend payout ratio (DPR) is presently 34.42%.

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.