Zoetis Inc. Declares Quarterly Dividend of $0.43 (NYSE:ZTS)

Zoetis Inc. (NYSE:ZTS) declared a quarterly dividend on Tuesday, February 6th, Zacks reports. Investors of record on Friday, April 19th will be paid a dividend of 0.432 per share on Tuesday, June 4th. This represents a $1.73 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, April 18th.

Zoetis has raised its dividend payment by an average of 23.3% annually over the last three years and has increased its dividend every year for the last 12 years. Zoetis has a dividend payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Zoetis to earn $6.43 per share next year, which means the company should continue to be able to cover its $1.73 annual dividend with an expected future payout ratio of 26.9%.

Zoetis Price Performance

NYSE:ZTS opened at $153.02 on Wednesday. The firm’s fifty day moving average is $178.25 and its two-hundred day moving average is $180.59. The firm has a market cap of $69.99 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 2.29 and a beta of 0.85. Zoetis has a one year low of $148.48 and a one year high of $201.92. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.08). Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the business posted $1.15 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. Research analysts expect that Zoetis will post 5.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ZTS. StockNews.com lowered shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Barclays boosted their price target on shares of Zoetis from $255.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Stifel Nicolaus decreased their target price on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Piper Sandler reiterated an “overweight” rating and set a $195.00 price target (down from $220.00) on shares of Zoetis in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their price target on shares of Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Zoetis presently has an average rating of “Buy” and an average target price of $221.75.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $173.33, for a total transaction of $159,983.59. Following the transaction, the executive vice president now owns 15,723 shares in the company, valued at approximately $2,725,267.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 2,209 shares of company stock worth $408,453. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Zoetis

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Enterprise Financial Services Corp boosted its holdings in shares of Zoetis by 2.3% during the first quarter. Enterprise Financial Services Corp now owns 2,446 shares of the company’s stock worth $407,000 after purchasing an additional 55 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in Zoetis by 0.4% in the 2nd quarter. CreativeOne Wealth LLC now owns 12,833 shares of the company’s stock worth $2,210,000 after buying an additional 57 shares during the last quarter. Buckingham Strategic Wealth LLC grew its holdings in Zoetis by 1.7% in the 4th quarter. Buckingham Strategic Wealth LLC now owns 3,679 shares of the company’s stock valued at $726,000 after buying an additional 63 shares during the period. Salem Investment Counselors Inc. increased its stake in shares of Zoetis by 8.8% during the 4th quarter. Salem Investment Counselors Inc. now owns 800 shares of the company’s stock valued at $117,000 after acquiring an additional 65 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Zoetis by 0.3% during the 1st quarter. Cetera Investment Advisers now owns 22,421 shares of the company’s stock valued at $3,732,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Company Profile

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.