Grove Bank & Trust Purchases 61 Shares of Zoetis Inc. (NYSE:ZTS)

Grove Bank & Trust lifted its position in shares of Zoetis Inc. (NYSE:ZTS) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,763 shares of the company’s stock after purchasing an additional 61 shares during the period. Grove Bank & Trust’s holdings in Zoetis were worth $2,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC raised its stake in Zoetis by 4.8% during the second quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock valued at $204,000 after buying an additional 54 shares during the last quarter. Forza Wealth Management LLC boosted its stake in Zoetis by 1.8% in the 2nd quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock worth $574,000 after purchasing an additional 58 shares in the last quarter. L. Roy Papp & Associates LLP grew its position in Zoetis by 2.8% during the 2nd quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock valued at $385,000 after purchasing an additional 60 shares during the last quarter. Angeles Wealth Management LLC increased its stake in Zoetis by 3.8% during the 1st quarter. Angeles Wealth Management LLC now owns 1,702 shares of the company’s stock valued at $288,000 after purchasing an additional 62 shares in the last quarter. Finally, Edge Capital Group LLC increased its stake in Zoetis by 3.7% during the 2nd quarter. Edge Capital Group LLC now owns 1,786 shares of the company’s stock valued at $310,000 after purchasing an additional 64 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Stock Performance

ZTS stock traded up $1.99 during midday trading on Monday, reaching $192.07. 445,069 shares of the company’s stock traded hands, compared to its average volume of 2,540,007. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The stock has a market cap of $87.64 billion, a P/E ratio of 36.62, a PEG ratio of 2.95 and a beta of 0.89. The stock’s 50-day moving average is $188.07 and its 200 day moving average is $176.25.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. Zoetis’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 earnings per share. As a group, analysts anticipate that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid 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 0.90%. Zoetis’s payout ratio is 33.14%.

Wall Street Analyst Weigh In

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

About Zoetis

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.