Harvest Portfolios Group Inc. Sells 31,617 Shares of Zoetis Inc. (NYSE:ZTS)

by · The Markets Daily

Harvest Portfolios Group Inc. reduced its stake in shares of Zoetis Inc. (NYSE:ZTS – Free Report) by 9.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 306,100 shares of the company’s stock after selling 31,617 shares during the quarter. Zoetis comprises about 2.0% of Harvest Portfolios Group Inc.’s investment portfolio, making the stock its 11th biggest position. Harvest Portfolios Group Inc. owned 0.07% of Zoetis worth $59,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ZTS. Asset Dedication LLC increased its holdings in Zoetis by 4.8% in the 2nd quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock worth $204,000 after buying an additional 54 shares during the period. Forza Wealth Management LLC boosted its holdings in shares of Zoetis by 1.8% in the 2nd quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock valued at $574,000 after acquiring an additional 58 shares during the last quarter. Cherry Creek Investment Advisors Inc. increased its stake in shares of Zoetis by 2.0% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock worth $590,000 after acquiring an additional 58 shares during the period. L. Roy Papp & Associates LLP raised its holdings in shares of Zoetis by 2.8% during the second quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock worth $385,000 after purchasing an additional 60 shares during the last quarter. Finally, Grove Bank & Trust lifted its position in Zoetis by 0.5% during the third quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock valued at $2,298,000 after purchasing an additional 61 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Price Performance

Shares of NYSE ZTS opened at $176.30 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The firm has a fifty day moving average of $188.71 and a 200 day moving average of $179.23. The firm has a market cap of $79.87 billion, a PE ratio of 32.95, a PEG ratio of 2.68 and a beta of 0.90. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92.

Zoetis (NYSE:ZTS – Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 52.59%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the business earned $1.36 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts predict that Zoetis Inc. will post 5.91 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.98%. Zoetis’s payout ratio is currently 32.52%.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Report on Zoetis

Zoetis Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ZTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoetis Inc. (NYSE:ZTS – Free Report).