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

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

Zoetis has increased its dividend by an average of 23.3% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Zoetis has a payout ratio of 26.8% indicating that 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

Shares of NYSE:ZTS opened at $153.02 on Wednesday. The firm has a market capitalization of $69.99 billion, a PE ratio of 30.18, a PEG ratio of 2.29 and a beta of 0.85. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32. Zoetis has a 1-year low of $148.48 and a 1-year high of $201.92. The business’s 50 day moving average is $178.25 and its 200-day moving average is $180.59.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 363 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $197.74, for a total transaction of $71,779.62. Following the completion of the transaction, the executive vice president now owns 20,417 shares in the company, valued at $4,037,257.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 2,209 shares of company stock worth $408,453. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fairfield Bush & CO. acquired a new stake in shares of Zoetis during the first quarter worth $134,000. Sequoia Financial Advisors LLC increased its holdings in Zoetis by 5.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,166 shares of the company’s stock worth $786,000 after purchasing an additional 211 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in shares of Zoetis by 3.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 51,581 shares of the company’s stock valued at $9,727,000 after purchasing an additional 1,914 shares during the period. Covestor Ltd raised its position in Zoetis by 102.8% in the 1st quarter. Covestor Ltd now owns 724 shares of the company’s stock valued at $137,000 after buying an additional 367 shares during the last quarter. Finally, Merit Financial Group LLC lifted its position in shares of Zoetis by 92.8% in the first quarter. Merit Financial Group LLC now owns 2,342 shares of the company’s stock worth $442,000 after purchasing an additional 1,127 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

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.