First Citizens Bank & Trust Co. Purchases 75 Shares of Zoetis Inc. (NYSE:ZTS)

First Citizens Bank & Trust Co. grew its position in Zoetis Inc. (NYSE:ZTS) by 0.6% in the second quarter, HoldingsChannel.com reports. The firm owned 11,820 shares of the company’s stock after acquiring an additional 75 shares during the period. First Citizens Bank & Trust Co.’s holdings in Zoetis were worth $2,049,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Webster Bank N. A. boosted its holdings in Zoetis by 89.1% in the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after buying an additional 82 shares during the period. Private Wealth Management Group LLC purchased a new position in Zoetis during the fourth quarter valued at $33,000. Gladius Capital Management LP bought a new stake in Zoetis in the 4th quarter valued at $40,000. Neo Ivy Capital Management purchased a new stake in Zoetis in the 4th quarter worth $40,000. Finally, LRI Investments LLC purchased a new stake in Zoetis in the 1st quarter worth $43,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Trading Down 0.7 %

Shares of NYSE:ZTS traded down $1.38 during trading hours on Tuesday, hitting $183.10. 335,971 shares of the company’s stock traded hands, compared to its average volume of 2,737,044. The firm has a market capitalization of $82.95 billion, a P/E ratio of 35.55, a price-to-earnings-growth ratio of 2.81 and a beta of 0.86. The business has a fifty day moving average price of $177.89 and a 200-day moving average price of $175.08. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the business earned $1.41 EPS. Zoetis’s revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that Zoetis Inc. will post 5.84 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.94%. The ex-dividend date is Thursday, July 18th. Zoetis’s dividend payout ratio is presently 33.33%.

Analysts Set New Price Targets

ZTS has been the topic of several research reports. Stifel Nicolaus lifted their target price on Zoetis from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Barclays decreased their price objective on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. The Goldman Sachs Group decreased their price target on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Argus raised Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Piper Sandler upped their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and a consensus price target of $217.11.

About Zoetis

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.