Kentucky Retirement Systems Has $6.17 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Kentucky Retirement Systems trimmed its position in shares of Zoetis Inc. (NYSE:ZTS) by 8.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,562 shares of the company’s stock after selling 2,823 shares during the quarter. Kentucky Retirement Systems’ holdings in Zoetis were worth $6,167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ZTS. Intech Investment Management LLC increased its holdings in shares of Zoetis by 94.6% in the first quarter. Intech Investment Management LLC now owns 2,320 shares of the company’s stock valued at $393,000 after purchasing an additional 1,128 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Zoetis by 49.6% in 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 during the period. Jacobi Capital Management LLC raised its position in shares of Zoetis by 1.5% during the first quarter. Jacobi Capital Management LLC now owns 8,161 shares of the company’s stock worth $1,381,000 after acquiring an additional 121 shares during the last quarter. Catalytic Wealth RIA LLC lifted its stake in shares of Zoetis by 7.5% during the first quarter. Catalytic Wealth RIA LLC now owns 4,107 shares of the company’s stock valued at $695,000 after acquiring an additional 285 shares during the period. Finally, Beaumont Financial Advisors LLC boosted its holdings in Zoetis by 31.1% in the first quarter. Beaumont Financial Advisors LLC now owns 1,855 shares of the company’s stock valued at $314,000 after acquiring an additional 440 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ZTS. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research increased their price objective 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 lifted their target price on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. increased their price target on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Piper Sandler lifted their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Ten investment 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.com, Zoetis presently has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Up 0.3 %

NYSE:ZTS opened at $175.14 on Friday. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The stock has a 50-day moving average price of $187.09 and a two-hundred day moving average price of $180.23. The stock has a market cap of $79.02 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 2.69 and a beta of 0.90. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26.

Zoetis (NYSE:ZTS) last posted its earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. Zoetis’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 EPS. As a group, equities analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current 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 given a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.99%. Zoetis’s dividend payout ratio is currently 32.52%.

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.