Amalgamated Bank Decreases Stake in Zoetis Inc. (NYSE:ZTS)

Amalgamated Bank cut its holdings in Zoetis Inc. (NYSE:ZTS) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,781 shares of the company’s stock after selling 2,425 shares during the quarter. Amalgamated Bank’s holdings in Zoetis were worth $18,518,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ZTS. Whittier Trust Co. boosted its stake in shares of Zoetis by 3.2% in the first quarter. Whittier Trust Co. now owns 10,810 shares of the company’s stock valued at $1,829,000 after buying an additional 332 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Zoetis by 8.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,792 shares of the company’s stock worth $472,000 after purchasing an additional 208 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Zoetis during the first quarter worth $509,000. Proficio Capital Partners LLC boosted its position in Zoetis by 6.5% during the first quarter. Proficio Capital Partners LLC now owns 2,761 shares of the company’s stock worth $467,000 after purchasing an additional 169 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in Zoetis by 58.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,931 shares of the company’s stock worth $7,095,000 after purchasing an additional 15,491 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ZTS. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. BTIG Research boosted their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Piper Sandler boosted their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Stifel Nicolaus upped their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $221.44.

Zoetis Trading Down 3.7 %

NYSE:ZTS opened at $175.18 on Tuesday. 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 business’s 50 day moving average is $188.84 and its two-hundred day moving average is $179.03. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a market cap of $79.37 billion, a PE ratio of 34.28, a P/E/G ratio of 2.82 and a beta of 0.90.

Zoetis (NYSE:ZTS) last released its earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the business posted $1.36 EPS. Zoetis’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts predict that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Announces Dividend

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 dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is 33.86%.

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.