Simplicity Wealth LLC Has $448,000 Stock Position in Zoetis Inc. (NYSE:ZTS)

Simplicity Wealth LLC lowered its position in shares of Zoetis Inc. (NYSE:ZTS) by 94.0% in the third quarter, HoldingsChannel reports. The firm owned 2,294 shares of the company’s stock after selling 35,968 shares during the period. Simplicity Wealth LLC’s holdings in Zoetis were worth $448,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Asset Dedication LLC grew its holdings in Zoetis by 4.8% during the 2nd quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock worth $204,000 after acquiring an additional 54 shares during the last quarter. Forza Wealth Management LLC grew its holdings in Zoetis by 1.8% during 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 during the last quarter. L. Roy Papp & Associates LLP grew its holdings in Zoetis by 2.8% during the 2nd quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock worth $385,000 after acquiring an additional 60 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in Zoetis by 3.8% during the 1st quarter. Angeles Wealth Management LLC now owns 1,702 shares of the company’s stock worth $288,000 after acquiring an additional 62 shares during the last quarter. Finally, Edge Capital Group LLC grew its holdings in Zoetis by 3.7% during the 2nd quarter. Edge Capital Group LLC now owns 1,786 shares of the company’s stock worth $310,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of NYSE:ZTS opened at $190.08 on Monday. The company has a market capitalization of $86.73 billion, a price-to-earnings ratio of 36.62, a P/E/G ratio of 2.95 and a beta of 0.89. The firm’s 50 day simple moving average is $188.07 and its 200 day simple moving average is $176.25. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share 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 the consensus estimate of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. Zoetis’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company posted $1.41 EPS. As a group, sell-side analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued 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 yield of 0.91%. Zoetis’s dividend payout ratio (DPR) is currently 33.14%.

Wall Street Analyst Weigh In

ZTS has been the topic of a number of research analyst reports. BTIG Research increased their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Stifel Nicolaus raised their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler raised their target price on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target 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.