SteelPeak Wealth LLC Makes New $368,000 Investment in Zoetis Inc. (NYSE:ZTS)

SteelPeak Wealth LLC bought a new stake in shares of Zoetis Inc. (NYSE:ZTS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,257 shares of the company’s stock, valued at approximately $368,000.

Other hedge funds have also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in Zoetis in the 3rd quarter worth about $31,000. First Personal Financial Services bought a new position in Zoetis in the third quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new position in Zoetis during the 3rd quarter worth $33,000. Dunhill Financial LLC raised its position in Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after purchasing an additional 75 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Zoetis Price Performance

Shares of ZTS stock opened at $172.61 on Friday. The firm has a market capitalization of $77.88 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 2.57 and a beta of 0.89. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The stock’s 50-day simple moving average is $169.82 and its 200-day simple moving average is $179.59. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $200.53.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results 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 net margin of 26.55% and a return on equity of 51.98%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the company posted $1.36 earnings per share. The business’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.16%. This is a boost from Zoetis’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, January 21st. Zoetis’s dividend payout ratio (DPR) is presently 37.59%.

Analyst Ratings Changes

Several analysts recently weighed in on ZTS shares. JPMorgan Chase & Co. lifted their price objective on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. UBS Group started coverage on shares of Zoetis in a research note on Monday, December 9th. They set a “neutral” rating and a $196.00 price objective on the stock. Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Morgan Stanley dropped their target price on Zoetis from $248.00 to $243.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus cut their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Zoetis currently has an average rating of “Buy” and an average price target of $215.00.

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.