Raleigh Capital Management Inc. Boosts Stake in Zoetis Inc. (NYSE:ZTS)

Raleigh Capital Management Inc. grew its position in shares of Zoetis Inc. (NYSE:ZTS) by 128.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 361 shares of the company’s stock after buying an additional 203 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Zoetis were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Community Financial Services Group LLC lifted its holdings in Zoetis by 34.8% during the third quarter. Community Financial Services Group LLC now owns 32,481 shares of the company’s stock worth $6,346,000 after acquiring an additional 8,387 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Zoetis by 10.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,966 shares of the company’s stock valued at $579,000 after purchasing an additional 284 shares during the last quarter. Retirement Guys Formula LLC raised its stake in shares of Zoetis by 3.6% during the 3rd quarter. Retirement Guys Formula LLC now owns 4,041 shares of the company’s stock worth $789,000 after purchasing an additional 139 shares during the period. 1858 Wealth Management LLC bought a new stake in shares of Zoetis during the 3rd quarter worth $349,000. Finally, Crew Capital Management Ltd. boosted its holdings in shares of Zoetis by 15.7% in the 3rd quarter. Crew Capital Management Ltd. now owns 5,635 shares of the company’s stock worth $1,101,000 after buying an additional 763 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 0.3 %

Shares of NYSE ZTS opened at $188.99 on Thursday. The business has a 50-day simple moving average of $189.23 and a two-hundred day simple moving average of $177.58. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a market cap of $86.24 billion, a P/E ratio of 36.41, a P/E/G ratio of 3.00 and a beta of 0.89. 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 (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $1.41 earnings per share. Research analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 33.14%.

Wall Street Analyst Weigh In

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