Janney Montgomery Scott LLC Raises Holdings in Zoetis Inc. (NYSE:ZTS)

Janney Montgomery Scott LLC lifted its stake in shares of Zoetis Inc. (NYSE:ZTS) by 3.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 103,884 shares of the company’s stock after buying an additional 3,208 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Zoetis were worth $20,297,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ZTS. Larson Financial Group LLC increased its position in shares of Zoetis by 44.3% in the 1st quarter. Larson Financial Group LLC now owns 1,368 shares of the company’s stock valued at $231,000 after purchasing an additional 420 shares during the last quarter. Avidian Wealth Solutions LLC raised its stake in Zoetis by 20.5% in the first quarter. Avidian Wealth Solutions LLC now owns 2,306 shares of the company’s stock valued at $390,000 after buying an additional 392 shares in the last quarter. Signaturefd LLC raised its stake in Zoetis by 0.8% in the first quarter. Signaturefd LLC now owns 9,794 shares of the company’s stock valued at $1,657,000 after buying an additional 82 shares in the last quarter. Valley Wealth Managers Inc. lifted its holdings in Zoetis by 9.6% during the 1st quarter. Valley Wealth Managers Inc. now owns 2,333 shares of the company’s stock worth $395,000 after buying an additional 205 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Zoetis by 15.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,247 shares of the company’s stock worth $888,000 after acquiring an additional 699 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Stock Performance

NYSE ZTS opened at $175.27 on Wednesday. The firm has a market cap of $79.41 billion, a P/E ratio of 34.30, a P/E/G ratio of 2.82 and a beta of 0.90. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The business’s 50-day moving average price is $188.71 and its 200 day moving average price is $179.23. 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 announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.12. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the business posted $1.36 EPS. The company’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.99%. Zoetis’s payout ratio is currently 33.86%.

Wall Street Analyst Weigh In

ZTS has been the subject of several recent analyst reports. Stifel Nicolaus boosted their target price on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. BTIG Research upped their target price on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Piper Sandler upped their price objective 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. lifted their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Zoetis currently has a consensus rating of “Buy” and an average target price of $221.44.

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.