Eastern Bank Lowers Position in Zoetis Inc. (NYSE:ZTS)

Eastern Bank cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,047 shares of the company’s stock after selling 8,733 shares during the period. Eastern Bank’s holdings in Zoetis were worth $22,981,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in shares of Zoetis in the third quarter valued at about $31,000. First Personal Financial Services purchased a new position in shares of Zoetis in the third quarter valued at about $33,000. Capital Performance Advisors LLP bought a new stake in shares of Zoetis in the third quarter worth about $33,000. Dunhill Financial LLC increased its holdings in shares of Zoetis by 80.6% in the third quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock worth $33,000 after purchasing an additional 75 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after purchasing an additional 153 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Stock Up 1.4 %

NYSE ZTS traded up $2.34 during midday trading on Monday, hitting $165.66. 1,417,822 shares of the company traded hands, compared to its average volume of 2,356,735. 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 $74.74 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.91 and a beta of 0.89. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $200.53. The company’s 50-day simple moving average is $171.71 and its 200-day simple moving average is $180.29.

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

Zoetis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from Zoetis’s previous quarterly dividend of $0.43. Zoetis’s dividend payout ratio (DPR) is presently 37.59%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZTS. JPMorgan Chase & Co. lifted their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Leerink Partners began coverage on Zoetis in a research note on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective on the stock. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. 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. Finally, UBS Group initiated coverage on Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price target for the company. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus 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.