Valley Wealth Managers Inc. Raises Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Valley Wealth Managers Inc. boosted its position in Zoetis Inc. (NYSE:ZTS) by 41.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,229 shares of the company’s stock after purchasing an additional 946 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Zoetis were worth $631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ZTS. First Personal Financial Services purchased a new position in shares of Zoetis during the third quarter valued at approximately $33,000. Capital Performance Advisors LLP purchased a new position in shares of Zoetis during the 3rd quarter worth $33,000. Quarry LP boosted its holdings in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after purchasing an additional 153 shares during the last quarter. Fortitude Family Office LLC grew its position in shares of Zoetis by 1,387.5% in the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after purchasing an additional 222 shares during the period. Finally, LRI Investments LLC acquired a new position in Zoetis in the first quarter valued at $43,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Zoetis Trading Up 0.3 %

NYSE ZTS opened at $175.12 on Friday. The company’s fifty day simple moving average is $187.09 and its 200-day simple moving average is $180.08. The stock has a market cap of $79.01 billion, a P/E ratio of 32.92, a PEG ratio of 2.68 and a beta of 0.90. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26.

Zoetis (NYSE:ZTS) last announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. Zoetis’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 EPS. Equities research analysts predict that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.99%. Zoetis’s dividend payout ratio (DPR) is 32.52%.

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.