Addison Advisors LLC Buys New Position in Zoetis Inc. (NYSE:ZTS)

Addison Advisors LLC purchased a new position in Zoetis Inc. (NYSE:ZTS) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,299 shares of the company’s stock, valued at approximately $254,000.

Other large investors also recently bought and sold shares of the company. Chartwell Investment Partners LLC lifted its position in shares of Zoetis by 80.5% during the third quarter. Chartwell Investment Partners LLC now owns 19,582 shares of the company’s stock worth $3,826,000 after purchasing an additional 8,734 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of Zoetis during the third quarter valued at about $490,000. Ashton Thomas Securities LLC grew its stake in shares of Zoetis by 4.5% during the third quarter. Ashton Thomas Securities LLC now owns 3,985 shares of the company’s stock valued at $779,000 after acquiring an additional 170 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Zoetis by 32.5% during the third quarter. Los Angeles Capital Management LLC now owns 407,142 shares of the company’s stock worth $79,547,000 after acquiring an additional 99,751 shares during the last quarter. Finally, Jensen Investment Management Inc. boosted its holdings in Zoetis by 9.4% in the third quarter. Jensen Investment Management Inc. now owns 2,150,370 shares of the company’s stock valued at $420,139,000 after purchasing an additional 184,829 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

ZTS has been the topic of several analyst reports. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Piper Sandler increased their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus lifted their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. BTIG Research increased their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note 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. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $221.44.

Zoetis Stock Performance

Shares of ZTS stock opened at $176.16 on Tuesday. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.09. The firm has a market capitalization of $79.48 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. The business has a 50 day simple moving average of $188.15 and a 200 day simple moving average of $179.77.

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

Zoetis Announces Dividend

The business also recently declared 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 is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.98%. Zoetis’s dividend payout ratio (DPR) is 32.33%.

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.