Secure Asset Management LLC Takes $321,000 Position in Zoetis Inc. (NYSE:ZTS)

Secure Asset Management LLC purchased a new position in Zoetis Inc. (NYSE:ZTS) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,643 shares of the company’s stock, valued at approximately $321,000.

Several other institutional investors also recently added to or reduced their stakes in ZTS. RFG Advisory LLC bought a new stake in shares of Zoetis in the 1st quarter worth approximately $307,000. Gulf International Bank UK Ltd lifted its position in shares of Zoetis by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 38,217 shares of the company’s stock valued at $6,466,000 after buying an additional 251 shares during the last quarter. MJP Associates Inc. ADV bought a new position in shares of Zoetis during the 1st quarter worth $232,000. Sanders Morris Harris LLC purchased a new stake in Zoetis in the 1st quarter worth about $440,000. Finally, &PARTNERS bought a new stake in Zoetis in the 1st quarter valued at about $399,000. Institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

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

Zoetis Stock Up 1.2 %

Shares of ZTS opened at $193.37 on Friday. The firm has a market cap of $88.23 billion, a P/E ratio of 37.26, a P/E/G ratio of 2.99 and a beta of 0.89. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The stock has a 50 day simple moving average of $188.98 and a two-hundred day simple moving average of $176.99. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09.

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

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be issued a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.89%. Zoetis’s dividend payout ratio is currently 33.14%.

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.