Keudell Morrison Wealth Management Has $308,000 Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Keudell Morrison Wealth Management boosted its holdings in Zoetis Inc. (NYSE:ZTS) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,576 shares of the company’s stock after buying an additional 86 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Zoetis were worth $308,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ZTS. Valley Brook Capital Group Inc. raised its stake in shares of Zoetis by 3.1% during the third quarter. Valley Brook Capital Group Inc. now owns 2,463 shares of the company’s stock valued at $481,000 after acquiring an additional 75 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in Zoetis by 62.8% in the third quarter. Kornitzer Capital Management Inc. KS now owns 3,020 shares of the company’s stock valued at $590,000 after purchasing an additional 1,165 shares during the period. Principal Financial Group Inc. raised its position in Zoetis by 17.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company’s stock worth $464,497,000 after purchasing an additional 351,372 shares during the last quarter. Forte Capital LLC ADV lifted its holdings in Zoetis by 37.7% during the 3rd quarter. Forte Capital LLC ADV now owns 2,063 shares of the company’s stock worth $403,000 after buying an additional 565 shares during the period. Finally, M&G PLC grew its position in shares of Zoetis by 1.6% in the 3rd quarter. M&G PLC now owns 77,230 shares of the company’s stock valued at $15,060,000 after buying an additional 1,253 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZTS has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective 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 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. JPMorgan Chase & Co. increased their price objective on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Finally, BTIG Research increased their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Up 0.9 %

ZTS traded up $1.50 during midday trading on Thursday, hitting $171.87. The company had a trading volume of 794,391 shares, compared to its average volume of 2,519,690. The company has a market capitalization of $77.87 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 2.68 and a beta of 0.90. The stock’s 50 day moving average price is $188.46 and its 200 day moving average price is $179.17. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92.

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

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 1.01%. Zoetis’s dividend payout ratio (DPR) is presently 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.