Crew Capital Management Ltd. Buys 763 Shares of Zoetis Inc. (NYSE:ZTS)

Crew Capital Management Ltd. boosted its holdings in Zoetis Inc. (NYSE:ZTS) by 15.7% in the third quarter, HoldingsChannel reports. The firm owned 5,635 shares of the company’s stock after purchasing an additional 763 shares during the period. Crew Capital Management Ltd.’s holdings in Zoetis were worth $1,101,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bellecapital International Ltd. boosted its position in shares of Zoetis by 0.6% during the third quarter. Bellecapital International Ltd. now owns 53,077 shares of the company’s stock valued at $10,370,000 after buying an additional 338 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Zoetis by 8.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 55,696 shares of the company’s stock valued at $10,882,000 after buying an additional 4,107 shares during the last quarter. Stegent Equity Advisors Inc. purchased a new position in shares of Zoetis during the third quarter valued at approximately $466,000. Cyndeo Wealth Partners LLC purchased a new position in Zoetis in the third quarter worth $244,000. Finally, Resonant Capital Advisors LLC boosted its position in Zoetis by 4.0% in the third quarter. Resonant Capital Advisors LLC now owns 1,972 shares of the company’s stock worth $385,000 after purchasing an additional 75 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Zoetis Price Performance

Shares of ZTS traded down $3.80 during midday trading on Monday, reaching $189.48. The stock had a trading volume of 253,179 shares, compared to its average volume of 2,515,415. The company’s 50-day moving average is $188.98 and its 200 day moving average is $177.17. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $86.46 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 3.00 and a beta of 0.89.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share 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 return on equity of 50.67% and a net margin of 26.29%. Zoetis’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 EPS. On average, equities analysts predict that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Dividend Announcement

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

Analyst Upgrades and Downgrades

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