Tufton Capital Management Sells 1,254 Shares of Zoetis Inc. $ZTS

Tufton Capital Management lowered its position in Zoetis Inc. (NYSE:ZTS) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,959 shares of the company’s stock after selling 1,254 shares during the quarter. Zoetis makes up about 1.5% of Tufton Capital Management’s portfolio, making the stock its 27th biggest position. Tufton Capital Management’s holdings in Zoetis were worth $7,635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in Zoetis by 180.4% during the 4th quarter. Brighton Jones LLC now owns 4,629 shares of the company’s stock valued at $754,000 after acquiring an additional 2,978 shares in the last quarter. Mutual Advisors LLC boosted its position in Zoetis by 48.2% during the 1st quarter. Mutual Advisors LLC now owns 5,470 shares of the company’s stock valued at $839,000 after acquiring an additional 1,779 shares in the last quarter. Capital Investment Advisory Services LLC boosted its position in Zoetis by 37.4% during the 1st quarter. Capital Investment Advisory Services LLC now owns 2,501 shares of the company’s stock valued at $412,000 after acquiring an additional 681 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in Zoetis by 20.6% during the 1st quarter. Concurrent Investment Advisors LLC now owns 17,806 shares of the company’s stock valued at $2,932,000 after acquiring an additional 3,041 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Zoetis by 1.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,171,951 shares of the company’s stock valued at $357,612,000 after acquiring an additional 40,380 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the topic of several recent research reports. Piper Sandler increased their target price on Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday, August 11th. UBS Group dropped their target price on Zoetis from $165.00 to $158.00 and set a “neutral” rating on the stock in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Zoetis in a research report on Wednesday, October 8th. Leerink Partnrs cut Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Finally, Leerink Partners cut Zoetis from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $195.00.

Zoetis Stock Up 0.2%

Zoetis stock opened at $144.43 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. The stock has a market capitalization of $64.01 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.31 and a beta of 0.90. Zoetis Inc. has a 1-year low of $139.34 and a 1-year high of $181.85. The business has a fifty day moving average price of $146.94 and a 200-day moving average price of $153.41.

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

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, October 31st will be paid a $0.50 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. Zoetis’s dividend payout ratio (DPR) is 34.42%.

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.