Aaron Wealth Advisors LLC Raises Stock Position in Zoetis Inc. (NYSE:ZTS)

Aaron Wealth Advisors LLC raised its position in Zoetis Inc. (NYSE:ZTS) by 63.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,621 shares of the company’s stock after purchasing an additional 1,020 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Zoetis were worth $512,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Webster Bank N. A. grew its position in Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares during the period. Quarry LP lifted its stake in shares of Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Zoetis during the 1st quarter worth $43,000. Hazlett Burt & Watson Inc. increased its position in shares of Zoetis by 60.7% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock worth $46,000 after purchasing an additional 102 shares during the last quarter. Finally, Central Valley Advisors LLC purchased a new stake in Zoetis in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ZTS shares. Piper Sandler lifted their price target 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. BTIG Research boosted 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 lifted their price objective on Zoetis from $200.00 to $210.00 and gave the company 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. Finally, JPMorgan Chase & Co. boosted 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. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $221.44.

Zoetis Trading Up 1.2 %

Shares of Zoetis stock opened at $193.37 on Friday. The company’s fifty day moving average is $188.98 and its two-hundred day moving average is $176.99. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. 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 $88.23 billion, a P/E ratio of 37.26, a PEG ratio of 2.99 and a beta of 0.89.

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

Zoetis Dividend Announcement

The company also recently announced 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 0.89%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is 33.14%.

About Zoetis

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.