Atlantic Union Bankshares Corp Trims Stock Position in Zoetis Inc. (NYSE:ZTS)

Atlantic Union Bankshares Corp decreased its position in Zoetis Inc. (NYSE:ZTS) by 0.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,696 shares of the company’s stock after selling 70 shares during the period. Atlantic Union Bankshares Corp’s holdings in Zoetis were worth $1,504,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC grew its position in shares of Zoetis by 9.8% during the 1st quarter. Tidal Investments LLC now owns 8,703 shares of the company’s stock worth $1,471,000 after buying an additional 776 shares in the last quarter. LRI Investments LLC purchased a new position in Zoetis during the 1st quarter valued at about $43,000. Burney Co. raised its holdings in shares of Zoetis by 10.1% in the 1st quarter. Burney Co. now owns 4,229 shares of the company’s stock valued at $716,000 after purchasing an additional 387 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Zoetis by 275.2% in the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after purchasing an additional 70,476 shares during the period. Finally, Cetera Advisors LLC boosted its stake in shares of Zoetis by 45.9% during the first quarter. Cetera Advisors LLC now owns 21,563 shares of the company’s stock valued at $3,649,000 after purchasing an additional 6,780 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Zoetis Stock Performance

ZTS opened at $175.25 on Friday. The company has a market cap of $79.07 billion, a P/E ratio of 32.94, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The firm’s 50-day moving average price is $183.83 and its 200-day moving average price is $180.84. Zoetis Inc. has a 52-week low of $144.80 and a 52-week 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 during the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $1.36 earnings per share. As a group, equities analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company 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 dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.99%. Zoetis’s payout ratio is presently 32.52%.

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.