Mission Wealth Management LP Lowers Holdings in Zoetis Inc. $ZTS

Mission Wealth Management LP lessened its stake in Zoetis Inc. (NYSE:ZTS) by 6.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 6,377 shares of the company’s stock after selling 448 shares during the quarter. Mission Wealth Management LP’s holdings in Zoetis were worth $995,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Nova Wealth Management Inc. purchased a new position in Zoetis in the first quarter worth about $25,000. 1248 Management LLC purchased a new position in Zoetis in the 1st quarter worth approximately $27,000. Saudi Central Bank purchased a new position in Zoetis in the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC raised its holdings in Zoetis by 79.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock worth $30,000 after acquiring an additional 88 shares during the last quarter. Finally, REAP Financial Group LLC raised its holdings in Zoetis by 201.5% in the 2nd quarter. REAP Financial Group LLC now owns 196 shares of the company’s stock worth $31,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

NYSE ZTS opened at $144.43 on Tuesday. Zoetis Inc. has a 52 week low of $139.34 and a 52 week high of $181.85. The firm has a market capitalization of $64.01 billion, a P/E ratio of 24.86, a PEG ratio of 2.31 and a beta of 0.90. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $146.94 and a 200-day moving average price of $153.41.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.62 by $0.14. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the firm earned $1.56 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Friday, October 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, October 31st. Zoetis’s dividend payout ratio is 34.42%.

Wall Street Analyst Weigh In

ZTS has been the subject of several recent analyst reports. Piper Sandler boosted their price target on Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, August 11th. UBS Group decreased their target price on Zoetis from $165.00 to $158.00 and set a “neutral” rating for the company in a research report on Monday, October 20th. Argus reissued a “buy” rating and issued a $190.00 target price on shares of Zoetis in a research report on Tuesday, September 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Zoetis in a report on Wednesday, October 8th. Finally, Leerink Partners cut shares of Zoetis from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $195.00.

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.