Glenmede Trust Co. NA Grows Position in Zoetis Inc. (NYSE:ZTS)

Glenmede Trust Co. NA boosted its holdings in Zoetis Inc. (NYSE:ZTS) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 148,287 shares of the company’s stock after buying an additional 260 shares during the quarter. Glenmede Trust Co. NA’s holdings in Zoetis were worth $28,972,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mizuho Securities USA LLC boosted its holdings in Zoetis by 13,726.9% in the third quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock worth $950,524,000 after purchasing an additional 4,829,815 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 worth $812,695,000 after acquiring an additional 178,303 shares during the period. Clearbridge Investments LLC lifted its holdings in Zoetis by 5.8% in the second quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock valued at $527,774,000 after acquiring an additional 166,517 shares during the period. Principal Financial Group Inc. grew its stake in shares of Zoetis by 17.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company’s stock valued at $464,497,000 after purchasing an additional 351,372 shares during the period. Finally, Sarasin & Partners LLP grew its position in shares of Zoetis by 546.3% during the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after acquiring an additional 1,904,899 shares during the period. Institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ZTS. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. BTIG Research raised their target price on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Piper Sandler boosted their target price on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus raised their price target on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $221.44.

Zoetis Price Performance

Zoetis stock opened at $176.74 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 stock has a market cap of $79.74 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 2.70 and a beta of 0.90. The firm has a 50-day moving average of $184.51 and a two-hundred day moving average of $180.81. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The business had revenue of $2.40 billion for 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 business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 EPS. On average, research analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be issued a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. 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.