Addison Capital Co Has $4.88 Million Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Addison Capital Co decreased its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,996 shares of the company’s stock after selling 173 shares during the quarter. Zoetis makes up 2.0% of Addison Capital Co’s holdings, making the stock its 16th biggest position. Addison Capital Co’s holdings in Zoetis were worth $4,884,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ZTS. Webster Bank N. A. increased its position in Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after buying an additional 82 shares during the period. Quarry LP increased its position in Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares during the period. LRI Investments LLC bought a new position in Zoetis during the 1st quarter worth $43,000. Hazlett Burt & Watson Inc. increased its position in Zoetis by 60.7% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock worth $46,000 after buying an additional 102 shares during the period. Finally, Central Valley Advisors LLC bought a new position in Zoetis during the 2nd quarter worth $49,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Performance

Zoetis stock opened at $191.00 on Friday. The business’s 50-day moving average price is $188.82 and its two-hundred day moving average price is $176.80. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The stock has a market cap of $87.15 billion, a PE ratio of 36.80, a P/E/G ratio of 2.99 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 announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm posted $1.41 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts expect that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed 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 dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 33.14%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ZTS. JPMorgan Chase & Co. raised their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research raised their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Piper Sandler raised their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus raised their price target on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $221.44.

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.