Secure Asset Management LLC Purchases Shares of 1,643 Zoetis Inc. (NYSE:ZTS)

Secure Asset Management LLC acquired a new position in shares of Zoetis Inc. (NYSE:ZTS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,643 shares of the company’s stock, valued at approximately $321,000.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ZTS shares. Piper Sandler upped 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. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research boosted their target price on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Stifel Nicolaus raised their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report 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 company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $221.44.

Zoetis Price Performance

ZTS stock opened at $193.37 on Friday. The company has a market capitalization of $88.23 billion, a P/E ratio of 37.26, a price-to-earnings-growth ratio of 2.99 and a beta of 0.89. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The business has a 50-day simple moving average of $188.98 and a two-hundred day simple moving average of $176.99. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the firm posted $1.41 EPS. Zoetis’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts expect that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given 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 dividend yield of 0.89%. Zoetis’s dividend payout ratio is currently 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.