Los Angeles Capital Management LLC Has $79.55 Million Position in Zoetis Inc. (NYSE:ZTS)

Los Angeles Capital Management LLC raised its stake in shares of Zoetis Inc. (NYSE:ZTS) by 32.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 407,142 shares of the company’s stock after buying an additional 99,751 shares during the quarter. Los Angeles Capital Management LLC owned about 0.09% of Zoetis worth $79,547,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Asset Dedication LLC lifted its position in shares of Zoetis by 4.8% during the 2nd quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock worth $204,000 after buying an additional 54 shares during the last quarter. Forza Wealth Management LLC lifted its position in shares of Zoetis by 1.8% during the 2nd quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock worth $574,000 after buying an additional 58 shares during the last quarter. Cherry Creek Investment Advisors Inc. lifted its position in shares of Zoetis by 2.0% during the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock worth $590,000 after buying an additional 58 shares during the last quarter. L. Roy Papp & Associates LLP lifted its position in shares of Zoetis by 2.8% during the 2nd quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock worth $385,000 after buying an additional 60 shares during the last quarter. Finally, Grove Bank & Trust lifted its position in shares of Zoetis by 0.5% during the 3rd quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock worth $2,298,000 after buying an additional 61 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Zoetis Trading Up 1.5 %

Shares of ZTS traded up $2.57 during mid-day trading on Friday, reaching $176.82. 3,243,440 shares of the company were exchanged, compared to its average volume of 2,342,687. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.09 and a current ratio of 3.69. The stock has a market capitalization of $79.77 billion, a PE ratio of 33.24, a PEG ratio of 2.71 and a beta of 0.90. The business has a 50 day simple moving average of $188.15 and a two-hundred day simple moving average of $179.56.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the company earned $1.36 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, analysts predict that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.98%. Zoetis’s dividend payout ratio is currently 32.33%.

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.