Zoetis Inc. (NYSE:ZTS) to Issue $0.43 Quarterly Dividend

Zoetis Inc. (NYSE:ZTS) announced a quarterly dividend on Wednesday, May 22nd, Zacks reports. Investors of record on Thursday, July 18th will be paid a dividend of 0.432 per share on Wednesday, September 4th. This represents a $1.73 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, July 18th.

Zoetis has raised its dividend payment by an average of 23.3% per year over the last three years and has increased its dividend every year for the last 13 years. Zoetis has a payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Zoetis to earn $6.34 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 27.3%.

Zoetis Stock Performance

NYSE ZTS opened at $170.89 on Friday. The company has a fifty day moving average of $164.16 and a two-hundred day moving average of $179.57. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. Zoetis has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a market capitalization of $77.98 billion, a PE ratio of 32.93, a P/E/G ratio of 2.67 and a beta of 0.86.

Zoetis (NYSE:ZTS) last announced its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the firm earned $1.31 EPS. The business’s revenue was up 9.5% on a year-over-year basis. As a group, analysts expect that Zoetis will post 5.76 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays reduced their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. HSBC reduced their target price on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. The Goldman Sachs Group dropped their price target on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Stifel Nicolaus decreased their price objective on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $211.75.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the completion of the sale, the executive vice president now owns 14,800 shares of the company’s stock, valued at $2,237,316. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% 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.