Renaissance Investment Group LLC Buys 154 Shares of Zoetis Inc. (NYSE:ZTS)

Renaissance Investment Group LLC boosted its stake in shares of Zoetis Inc. (NYSE:ZTS) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,592 shares of the company’s stock after purchasing an additional 154 shares during the quarter. Zoetis comprises approximately 2.1% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 22nd biggest position. Renaissance Investment Group LLC’s holdings in Zoetis were worth $10,080,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Assets Advisory LLC bought a new position in Zoetis during the first quarter worth $8,831,000. Franklin Street Advisors Inc. NC boosted its position in Zoetis by 4.3% during the first quarter. Franklin Street Advisors Inc. NC now owns 121,024 shares of the company’s stock worth $20,478,000 after purchasing an additional 5,035 shares during the period. Prevail Innovative Wealth Advisors LLC lifted its holdings in shares of Zoetis by 24.5% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock worth $3,211,000 after buying an additional 3,738 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Zoetis by 58.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,931 shares of the company’s stock worth $7,095,000 after buying an additional 15,491 shares in the last quarter. Finally, Duality Advisers LP lifted its holdings in shares of Zoetis by 43.7% during the first quarter. Duality Advisers LP now owns 40,641 shares of the company’s stock worth $6,877,000 after buying an additional 12,359 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Zoetis Stock Down 0.1 %

ZTS stock opened at $190.08 on Friday. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The company has a market cap of $86.12 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 2.95 and a beta of 0.89. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The business has a 50-day simple moving average of $188.07 and a 200 day simple moving average of $176.20.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm 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 quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Sell-side analysts anticipate that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is 33.86%.

Analyst Upgrades and Downgrades

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

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.