Wealth Enhancement Advisory Services LLC Raises Stake in Zoetis Inc. (NYSE:ZTS)

Wealth Enhancement Advisory Services LLC grew its holdings in Zoetis Inc. (NYSE:ZTS) by 1.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 248,877 shares of the company’s stock after buying an additional 3,364 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.05% of Zoetis worth $48,625,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Sarasin & Partners LLP lifted its position in Zoetis by 546.3% during the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after acquiring an additional 1,904,899 shares during the period. Swedbank AB purchased a new stake in shares of Zoetis during the first quarter worth approximately $210,815,000. International Assets Investment Management LLC lifted its holdings in shares of Zoetis by 41,235.7% during the third quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock worth $183,652,000 after purchasing an additional 937,700 shares during the period. Marshall Wace LLP grew its position in Zoetis by 7,608.6% in the 2nd quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock valued at $144,874,000 after buying an additional 824,843 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Zoetis by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock valued at $6,895,235,000 after buying an additional 414,605 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of ZTS stock opened at $180.01 on Friday. The stock has a fifty day moving average price of $189.10 and a 200 day moving average price of $177.79. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The stock has a market cap of $82.14 billion, a PE ratio of 34.68, a P/E/G ratio of 2.94 and a beta of 0.89. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.41 EPS. Sell-side analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be given a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.96%. Zoetis’s dividend payout ratio is presently 33.14%.

Analysts Set New Price Targets

Several research firms have recently commented on ZTS. BTIG Research raised their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Stifel Nicolaus lifted their price objective on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Piper Sandler boosted their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price target on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and a consensus price target of $221.44.

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.