Atlantic Union Bankshares Corp Cuts Position in Zoetis Inc. $ZTS

Atlantic Union Bankshares Corp trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 8.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,281 shares of the company’s stock after selling 4,946 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Zoetis were worth $8,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. North Star Asset Management Inc. increased its holdings in Zoetis by 4.9% during the second quarter. North Star Asset Management Inc. now owns 1,441 shares of the company’s stock worth $225,000 after buying an additional 67 shares during the last quarter. Moment Partners LLC increased its stake in shares of Zoetis by 3.2% during the 2nd quarter. Moment Partners LLC now owns 2,354 shares of the company’s stock worth $367,000 after purchasing an additional 72 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of Zoetis by 6.7% in the 2nd quarter. CVA Family Office LLC now owns 1,173 shares of the company’s stock worth $183,000 after purchasing an additional 74 shares during the period. Bank of Nova Scotia Trust Co. raised its holdings in shares of Zoetis by 4.6% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 1,692 shares of the company’s stock worth $264,000 after purchasing an additional 74 shares during the period. Finally, Country Club Bank lifted its stake in Zoetis by 1.5% in the second quarter. Country Club Bank now owns 5,142 shares of the company’s stock valued at $803,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 0.1%

Zoetis stock opened at $124.94 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.28 and a current ratio of 3.64. Zoetis Inc. has a fifty-two week low of $115.25 and a fifty-two week high of $177.40. The stock has a market cap of $55.06 billion, a P/E ratio of 21.03, a PEG ratio of 2.16 and a beta of 0.96. The firm’s fifty day moving average price is $124.13 and its 200-day moving average price is $136.87.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.08. Zoetis had a return on equity of 57.19% and a net margin of 28.21%.The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the company posted $1.58 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, January 20th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, January 20th. This is a boost from Zoetis’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 1.7%. Zoetis’s dividend payout ratio (DPR) is presently 35.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays initiated coverage on Zoetis in a research note on Monday, December 8th. They issued an “equal weight” rating and a $136.00 price objective on the stock. The Goldman Sachs Group upgraded shares of Zoetis to a “buy” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. cut their price objective on shares of Zoetis from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. KeyCorp assumed coverage on shares of Zoetis in a report on Thursday, November 20th. They set a “sector weight” rating on the stock. Finally, Wall Street Zen raised Zoetis from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $152.45.

Zoetis Profile

Zoetis Inc (NYSE: ZTS) is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company’s offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.