Umpqua Bank Purchases Shares of 1,256 Zoetis Inc. (NYSE:ZTS)

Umpqua Bank acquired a new position 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 acquired 1,256 shares of the company’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP grew its holdings in Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares during the period. LRI Investments LLC purchased a new position in Zoetis during the first quarter valued at approximately $43,000. Fortitude Family Office LLC raised its position in shares of Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after purchasing an additional 222 shares during the period. Central Valley Advisors LLC purchased a new position in shares of Zoetis during the 2nd quarter valued at $49,000. Finally, EdgeRock Capital LLC bought a new stake in Zoetis during the second quarter valued at about $56,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Stifel Nicolaus boosted their price objective on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Piper Sandler boosted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, BTIG Research increased their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Up 0.7 %

ZTS traded up $1.16 during trading on Wednesday, hitting $176.43. The stock had a trading volume of 165,840 shares, compared to its average volume of 2,504,797. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The stock has a 50 day simple moving average of $188.71 and a two-hundred day simple moving average of $179.23. 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 market capitalization of $79.93 billion, a PE ratio of 33.16, a PEG ratio of 2.68 and a beta of 0.90.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a return on equity of 52.59% and a net margin of 26.55%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 earnings per share. On average, research analysts predict that Zoetis Inc. will post 5.91 earnings per share for the current year.

Zoetis Announces Dividend

The firm 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. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is currently 32.33%.

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.