Janney Capital Management LLC Has $12.29 Million Position in Zoetis Inc. (NYSE:ZTS)

Janney Capital Management LLC trimmed its position in Zoetis Inc. (NYSE:ZTS) by 18.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 62,922 shares of the company’s stock after selling 14,711 shares during the period. Janney Capital Management LLC’s holdings in Zoetis were worth $12,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Prevail Innovative Wealth Advisors LLC increased its position in Zoetis by 24.5% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock worth $3,211,000 after acquiring an additional 3,738 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Zoetis by 58.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,931 shares of the company’s stock valued at $7,095,000 after buying an additional 15,491 shares in the last quarter. Duality Advisers LP boosted its stake in shares of Zoetis by 43.7% in the first quarter. Duality Advisers LP now owns 40,641 shares of the company’s stock valued at $6,877,000 after buying an additional 12,359 shares during the period. M&G Plc acquired a new stake in Zoetis during the first quarter worth approximately $19,819,000. Finally, Cetera Investment Advisers increased its stake in Zoetis by 275.2% during the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after acquiring an additional 70,476 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Zoetis Stock Performance

Shares of Zoetis stock opened at $181.95 on Friday. The company’s 50 day moving average price is $188.97 and its two-hundred day moving average price is $178.69. The firm has a market capitalization of $82.43 billion, a P/E ratio of 35.61, a P/E/G ratio of 2.78 and a beta of 0.90. 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 Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping 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 business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the company posted $1.41 EPS. Zoetis’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is currently 33.66%.

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.