Perigon Wealth Management LLC Sells 773 Shares of Zoetis Inc. (NYSE:ZTS)

Perigon Wealth Management LLC lessened its position in shares of Zoetis Inc. (NYSE:ZTS) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,004 shares of the company’s stock after selling 773 shares during the quarter. Perigon Wealth Management LLC’s holdings in Zoetis were worth $4,065,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZTS. AQR Capital Management LLC lifted its position in Zoetis by 14.1% in the second quarter. AQR Capital Management LLC now owns 97,480 shares of the company’s stock worth $16,899,000 after buying an additional 12,063 shares during the last quarter. Algert Global LLC boosted its stake in shares of Zoetis by 29.5% during the second quarter. Algert Global LLC now owns 1,924 shares of the company’s stock valued at $334,000 after purchasing an additional 438 shares during the period. Creative Planning grew its holdings in shares of Zoetis by 37.5% in the second quarter. Creative Planning now owns 83,231 shares of the company’s stock worth $14,429,000 after purchasing an additional 22,683 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Zoetis by 32.8% in the second quarter. NewEdge Advisors LLC now owns 35,192 shares of the company’s stock worth $6,101,000 after purchasing an additional 8,688 shares during the last quarter. Finally, Quarry LP increased its stake in Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Price Performance

NYSE ZTS opened at $170.32 on Wednesday. The firm’s fifty day simple moving average is $170.04 and its two-hundred day simple moving average is $179.71. The firm has a market capitalization of $76.84 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.57 and a beta of 0.89. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.53.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.12. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. Analysts forecast that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, January 21st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%. This is a boost from Zoetis’s previous quarterly dividend of $0.43. Zoetis’s dividend payout ratio (DPR) is currently 37.59%.

Wall Street Analysts Forecast Growth

ZTS has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. UBS Group started coverage on shares of Zoetis in a research note on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective for the company. Leerink Partners started coverage on shares of Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $211.89.

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.