Exchange Traded Concepts LLC Has $320,000 Stock Position in Zoetis Inc. (NYSE:ZTS)

Exchange Traded Concepts LLC raised its position in Zoetis Inc. (NYSE:ZTS) by 4,582.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,639 shares of the company’s stock after purchasing an additional 1,604 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Zoetis were worth $320,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ZTS. Westend Capital Management LLC acquired a new position in shares of Zoetis in the 3rd quarter worth approximately $5,514,000. HCR Wealth Advisors boosted its stake in Zoetis by 15.2% in the third quarter. HCR Wealth Advisors now owns 15,470 shares of the company’s stock worth $3,023,000 after purchasing an additional 2,042 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of Zoetis by 14.2% during the third quarter. Gateway Investment Advisers LLC now owns 2,383 shares of the company’s stock worth $466,000 after purchasing an additional 297 shares during the last quarter. Covea Finance increased its stake in shares of Zoetis by 23.6% in the third quarter. Covea Finance now owns 256,444 shares of the company’s stock valued at $50,104,000 after buying an additional 49,000 shares in the last quarter. Finally, Perfromance Wealth Partners LLC raised its holdings in shares of Zoetis by 40.6% in the third quarter. Perfromance Wealth Partners LLC now owns 1,910 shares of the company’s stock valued at $370,000 after buying an additional 552 shares during the last quarter. 92.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ZTS shares. Stifel Nicolaus raised their price objective on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler raised their price target on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. BTIG Research lifted their target price on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Argus raised Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Performance

Shares of ZTS stock opened at $193.28 on Friday. The stock has a market cap of $88.19 billion, a PE ratio of 37.24, a price-to-earnings-growth ratio of 2.99 and a beta of 0.89. The stock has a 50-day moving average of $188.98 and a 200-day moving average of $177.07. 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 one year low of $144.80 and a one year high of $201.92.

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

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.89%. 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.