Mizuho Securities USA LLC Cuts Holdings in Zoetis Inc. (NYSE:ZTS)

Mizuho Securities USA LLC lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 16.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,378 shares of the company’s stock after selling 5,807 shares during the period. Mizuho Securities USA LLC’s holdings in Zoetis were worth $5,740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Darwin Wealth Management LLC purchased a new position in shares of Zoetis in the third quarter worth $31,000. First Personal Financial Services purchased a new stake in Zoetis in the third quarter valued at $33,000. Capital Performance Advisors LLP purchased a new position in Zoetis during the third quarter valued at approximately $33,000. Quarry LP lifted its holdings in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after acquiring an additional 153 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Zoetis during the 1st quarter worth approximately $43,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

ZTS stock opened at $176.71 on Friday. The business’s fifty day moving average price is $185.90 and its 200 day moving average price is $180.45. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. 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 $79.73 billion, a PE ratio of 33.22, a P/E/G ratio of 2.69 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 (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.12. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, sell-side analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Dividend Announcement

The business also recently disclosed 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. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is currently 32.52%.

Analyst Upgrades and Downgrades

Several analysts have commented on ZTS shares. BTIG Research raised their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Argus raised Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Piper Sandler raised their target price 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. Finally, Stifel Nicolaus increased their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zoetis currently has an average rating of “Buy” and an average target price 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.