Raymond James & Associates Boosts Stock Position in Zoetis Inc. (NYSE:ZTS)

Raymond James & Associates boosted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 794,419 shares of the company’s stock after purchasing an additional 45,597 shares during the quarter. Raymond James & Associates owned approximately 0.17% of Zoetis worth $137,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hohimer Wealth Management LLC lifted its stake in Zoetis by 1.2% in the 4th quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock worth $866,000 after acquiring an additional 52 shares in the last quarter. Forum Financial Management LP lifted its stake in Zoetis by 0.8% in the 4th quarter. Forum Financial Management LP now owns 7,386 shares of the company’s stock worth $1,458,000 after acquiring an additional 56 shares in the last quarter. Angeles Wealth Management LLC lifted its stake in Zoetis by 3.5% in the 4th quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock worth $324,000 after acquiring an additional 56 shares in the last quarter. Prossimo Advisors LLC lifted its stake in Zoetis by 1.7% in the 4th quarter. Prossimo Advisors LLC now owns 3,498 shares of the company’s stock worth $690,000 after acquiring an additional 57 shares in the last quarter. Finally, Forza Wealth Management LLC lifted its stake in Zoetis by 1.8% in the 2nd quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock worth $574,000 after acquiring an additional 58 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ZTS. The Goldman Sachs Group reduced their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research note on Monday, May 6th. BTIG Research raised their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Stifel Nicolaus raised their price target on Zoetis from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Barclays cut their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. Finally, Piper Sandler raised their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zoetis currently has an average rating of “Buy” and a consensus target price of $217.11.

Zoetis Stock Performance

Shares of NYSE ZTS opened at $183.71 on Monday. 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 firm has a market cap of $83.83 billion, a price-to-earnings ratio of 35.40, a P/E/G ratio of 2.81 and a beta of 0.86. The business’s 50-day simple moving average is $177.78 and its 200-day simple moving average is $175.12. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 EPS. As a group, equities research analysts expect that Zoetis Inc. will post 5.84 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Thursday, July 18th. Zoetis’s dividend payout ratio (DPR) is currently 33.14%.

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.