Heathbridge Capital Management Ltd. Decreases Stake in Zoetis Inc. (NYSE:ZTS)

Heathbridge Capital Management Ltd. reduced its position in Zoetis Inc. (NYSE:ZTS) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,850 shares of the company’s stock after selling 400 shares during the quarter. Zoetis comprises about 4.7% of Heathbridge Capital Management Ltd.’s holdings, making the stock its 9th biggest holding. Heathbridge Capital Management Ltd.’s holdings in Zoetis were worth $12,280,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ZTS. Vanguard Group Inc. boosted its position in shares of Zoetis by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock valued at $6,895,235,000 after acquiring an additional 414,605 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Zoetis by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock valued at $812,695,000 after purchasing an additional 178,303 shares in the last quarter. Capital Research Global Investors lifted its position in Zoetis by 2.3% during the first quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock valued at $685,416,000 after purchasing an additional 90,330 shares during the last quarter. Clearbridge Investments LLC grew its stake in Zoetis by 5.8% in the 2nd quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock worth $527,774,000 after buying an additional 166,517 shares in the last quarter. Finally, Sarasin & Partners LLP increased its holdings in shares of Zoetis by 546.3% in the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after buying an additional 1,904,899 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Down 1.8 %

Shares of ZTS opened at $191.00 on Friday. The stock has a market capitalization of $87.15 billion, a P/E ratio of 36.80, a PEG ratio of 2.99 and a beta of 0.89. 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 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The firm has a fifty day simple moving average of $188.82 and a two-hundred day simple moving average of $176.80.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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. On average, research analysts anticipate that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is currently 33.14%.

Wall Street Analyst Weigh In

ZTS has been the subject of several research reports. Stifel Nicolaus upped their target price on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler increased 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. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research upped their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. 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 has an average rating of “Buy” and a consensus 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.