McBroom & Associates LLC Increases Stake in Zoetis Inc. (NYSE:ZTS)

McBroom & Associates LLC grew its position in Zoetis Inc. (NYSE:ZTS) by 3.6% during the 3rd quarter, Holdings Channel reports. The fund owned 37,468 shares of the company’s stock after buying an additional 1,296 shares during the quarter. Zoetis comprises about 4.5% of McBroom & Associates LLC’s holdings, making the stock its 12th biggest position. McBroom & Associates LLC’s holdings in Zoetis were worth $7,321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Webster Bank N. A. raised its position in Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. Quarry LP increased its holdings in shares of Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Zoetis in the first quarter valued at about $43,000. Hazlett Burt & Watson Inc. boosted its holdings in Zoetis by 60.7% during the first quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock worth $46,000 after buying an additional 102 shares in the last quarter. Finally, Central Valley Advisors LLC acquired a new position in Zoetis during the second quarter worth about $49,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ZTS shares. Piper Sandler boosted their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus boosted 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. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research boosted their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a 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. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $221.44.

Zoetis Stock Performance

Zoetis stock opened at $193.28 on Friday. The stock has a fifty day moving average price of $188.98 and a 200 day moving average price of $177.07. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The firm has a market capitalization of $87.57 billion, a P/E ratio of 37.82, a PEG ratio of 3.00 and a beta of 0.89. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating 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 company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $1.41 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is currently 33.86%.

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.