Ground Swell Capital LLC Acquires New Position in Zoetis Inc. (NYSE:ZTS)

Ground Swell Capital LLC bought a new position in Zoetis Inc. (NYSE:ZTS) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,120 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ZTS. Choreo LLC raised its position in Zoetis by 2.7% in the 1st quarter. Choreo LLC now owns 5,196 shares of the company’s stock worth $879,000 after purchasing an additional 136 shares during the period. Financial Counselors Inc. increased its holdings in shares of Zoetis by 1.2% in the first quarter. Financial Counselors Inc. now owns 63,642 shares of the company’s stock worth $10,769,000 after buying an additional 753 shares during the period. Salomon & Ludwin LLC lifted its stake in shares of Zoetis by 27.4% in the 1st quarter. Salomon & Ludwin LLC now owns 660 shares of the company’s stock valued at $112,000 after acquiring an additional 142 shares during the last quarter. Whittier Trust Co. boosted its holdings in Zoetis by 3.2% during the 1st quarter. Whittier Trust Co. now owns 10,810 shares of the company’s stock valued at $1,829,000 after acquiring an additional 332 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Zoetis by 8.0% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,792 shares of the company’s stock worth $472,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of Zoetis stock opened at $181.95 on Monday. The business has a fifty day simple moving average of $188.97 and a two-hundred day simple moving average of $178.87. The firm has a market capitalization of $82.43 billion, a P/E ratio of 35.61, a P/E/G ratio of 2.78 and a beta of 0.90. 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 Inc. has a 12 month low of $144.80 and a 12 month high of $201.92.

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

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is 33.66%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ZTS. BTIG Research raised their target price 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. raised their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Stifel Nicolaus upped their price objective on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler boosted their price target on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis 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.