iA Global Asset Management Inc. Boosts Stock Holdings in Zoetis Inc. (NYSE:ZTS)

iA Global Asset Management Inc. increased its position in shares of Zoetis Inc. (NYSE:ZTS) by 600.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 25,504 shares of the company’s stock after buying an additional 21,862 shares during the quarter. iA Global Asset Management Inc.’s holdings in Zoetis were worth $4,983,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in shares of Zoetis during the 3rd quarter worth about $31,000. First Personal Financial Services purchased a new position in Zoetis during the third quarter worth approximately $33,000. Capital Performance Advisors LLP acquired a new stake in Zoetis in the third quarter valued at approximately $33,000. Quarry LP increased its position in shares of Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after buying an additional 153 shares in the last quarter. Finally, Fortitude Family Office LLC raised its stake in shares of Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after buying an additional 222 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Up 1.0 %

Shares of NYSE:ZTS opened at $176.46 on Friday. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The business has a fifty day moving average of $182.07 and a two-hundred day moving average of $181.00. The stock has a market cap of $79.61 billion, a P/E ratio of 33.17, a PEG ratio of 2.88 and a beta of 0.89.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.12. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. Zoetis’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $1.36 earnings per share. On average, research analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st were issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, October 31st. Zoetis’s dividend payout ratio is presently 32.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ZTS shares. Piper Sandler boosted their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Leerink Partnrs upgraded shares of Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Stifel Nicolaus lifted their price objective on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Leerink Partners assumed coverage on Zoetis in a research note on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $219.00.

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.