Sequoia Financial Advisors LLC Acquires 7,677 Shares of Zoetis Inc. (NYSE:ZTS)

Sequoia Financial Advisors LLC grew its stake in Zoetis Inc. (NYSE:ZTS) by 4.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 196,806 shares of the company’s stock after purchasing an additional 7,677 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Zoetis were worth $38,452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ZTS. Webster Bank N. A. grew its stake in Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Quarry LP boosted its holdings 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 buying an additional 153 shares during the last quarter. LRI Investments LLC bought a new position in shares of Zoetis in the first quarter valued at $43,000. Central Valley Advisors LLC bought a new stake in Zoetis during the second quarter worth $49,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Zoetis in the first quarter valued at $51,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of ZTS traded down $1.16 during mid-day trading on Tuesday, hitting $188.29. 562,606 shares of the company’s stock were exchanged, compared to its average volume of 2,508,868. 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. The stock’s 50-day simple moving average is $189.09 and its 200-day simple moving average is $177.34. The firm has a market cap of $85.92 billion, a price-to-earnings ratio of 36.20, a price-to-earnings-growth ratio of 3.00 and a beta of 0.89.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 EPS. On average, equities research analysts expect that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Announces Dividend

The company also recently disclosed 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 of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.92%. Zoetis’s payout ratio is 33.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Stifel Nicolaus boosted their target price on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Piper Sandler lifted their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, BTIG Research increased their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report 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, the company currently has a consensus rating of “Buy” and a consensus target price of $221.44.

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.