Pinnacle Financial Partners Inc Grows Stake in Zoetis Inc. (NYSE:ZTS)

Pinnacle Financial Partners Inc raised its position in Zoetis Inc. (NYSE:ZTS) by 5.2% during the third quarter, Holdings Channel reports. The fund owned 45,865 shares of the company’s stock after acquiring an additional 2,264 shares during the period. Pinnacle Financial Partners Inc’s holdings in Zoetis were worth $8,961,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Personal Financial Services bought a new stake in shares of Zoetis during the 3rd quarter valued at $33,000. Capital Performance Advisors LLP bought a new stake in Zoetis during the third quarter valued at about $33,000. Quarry LP increased its position in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares in the last quarter. LRI Investments LLC bought a new position in shares of Zoetis in the first quarter worth about $43,000. Finally, Fortitude Family Office LLC lifted its position in shares of Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after buying an additional 222 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. BTIG Research raised their price objective on shares of 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. increased their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus boosted their price objective on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Piper Sandler increased their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Performance

NYSE:ZTS opened at $177.28 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. The company has a market cap of $79.98 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 2.67 and a beta of 0.90. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The stock’s 50 day simple moving average is $187.81 and its two-hundred day simple moving average is $180.04.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the firm earned $1.36 earnings per share. Zoetis’s revenue was up 11.6% on a year-over-year basis. As a group, equities analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current fiscal 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 given a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.97%. Zoetis’s dividend payout ratio is currently 32.52%.

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.