Hara Capital LLC Takes Position in Zoetis Inc. (NYSE:ZTS)

Hara Capital LLC acquired a new position in Zoetis Inc. (NYSE:ZTS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 485 shares of the company’s stock, valued at approximately $95,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Prevail Innovative Wealth Advisors LLC lifted its position in shares of Zoetis by 24.5% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock worth $3,211,000 after acquiring an additional 3,738 shares in the last quarter. M&G Plc bought a new stake in shares of Zoetis during the 1st quarter valued at $19,819,000. Cetera Investment Advisers lifted its holdings in Zoetis by 275.2% during the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after purchasing an additional 70,476 shares in the last quarter. Sei Investments Co. boosted its stake in Zoetis by 19.6% in the 1st quarter. Sei Investments Co. now owns 370,069 shares of the company’s stock worth $62,622,000 after purchasing an additional 60,698 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in Zoetis by 49.6% during the 1st quarter. Acadian Asset Management LLC now owns 25,051 shares of the company’s stock valued at $4,235,000 after buying an additional 8,302 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Zoetis Stock Performance

Shares of ZTS stock opened at $174.34 on Friday. The company has a quick ratio of 2.09, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The stock has a fifty day moving average of $188.46 and a 200 day moving average of $179.17. The firm has a market capitalization of $78.65 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.61 and a beta of 0.90. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92.

Zoetis (NYSE:ZTS) last announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

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 paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is presently 32.52%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ZTS. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research raised their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus upped their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Piper Sandler increased their price objective 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. boosted 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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target 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.