626 Financial LLC Makes New $212,000 Investment in Zoetis Inc. (NYSE:ZTS)

626 Financial LLC purchased a new stake in Zoetis Inc. (NYSE:ZTS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,087 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Cabot Wealth Management Inc. raised its holdings in Zoetis by 0.7% in the 3rd quarter. Cabot Wealth Management Inc. now owns 60,236 shares of the company’s stock worth $11,769,000 after acquiring an additional 415 shares during the period. Trust Co. of Oklahoma grew its position in shares of Zoetis by 10.5% in the third quarter. Trust Co. of Oklahoma now owns 8,356 shares of the company’s stock valued at $1,633,000 after purchasing an additional 796 shares during the last quarter. NBC Securities Inc. increased its stake in shares of Zoetis by 11.9% in the third quarter. NBC Securities Inc. now owns 10,959 shares of the company’s stock worth $2,141,000 after purchasing an additional 1,162 shares during the period. Creative Planning lifted its position in shares of Zoetis by 8.6% during the 3rd quarter. Creative Planning now owns 90,401 shares of the company’s stock worth $17,663,000 after purchasing an additional 7,170 shares during the last quarter. Finally, CX Institutional lifted its position in shares of Zoetis by 6.3% during the 3rd quarter. CX Institutional now owns 8,142 shares of the company’s stock worth $1,591,000 after purchasing an additional 482 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Price Performance

NYSE:ZTS opened at $192.39 on Wednesday. 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 company has a 50-day moving average of $188.57 and a 200-day moving average of $176.58. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a market capitalization of $87.16 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 2.99 and a beta of 0.89.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is 33.86%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ZTS shares. Piper Sandler lifted their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research increased their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus raised their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Ten investment 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, the company currently has an average rating of “Buy” and an average 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.