Bank of Marin Has $926,000 Stock Position in Zoetis Inc. (NYSE:ZTS)

Bank of Marin boosted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,742 shares of the company’s stock after acquiring an additional 82 shares during the quarter. Bank of Marin’s holdings in Zoetis were worth $926,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ZTS. First Personal Financial Services purchased a new position in Zoetis during the third quarter valued at approximately $33,000. Capital Performance Advisors LLP acquired a new position in shares of Zoetis in the third quarter worth $33,000. Quarry LP raised its holdings in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after acquiring an additional 153 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Zoetis during the first quarter worth $43,000. Finally, Fortitude Family Office LLC boosted its position in Zoetis by 1,387.5% during the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Zoetis Stock Performance

Shares of NYSE:ZTS traded down $2.00 during midday trading on Friday, hitting $172.63. The company’s stock had a trading volume of 254,266 shares, compared to its average volume of 2,533,761. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The stock’s 50 day simple moving average is $187.37 and its 200 day simple moving average is $179.98. The stock has a market capitalization of $77.89 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.72 and a beta of 0.90. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92.

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

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 1.00%. Zoetis’s dividend payout ratio is 32.52%.

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.