Allen Capital Group LLC Purchases 467 Shares of Zoetis Inc. (NYSE:ZTS)

Allen Capital Group LLC increased its position in shares of Zoetis Inc. (NYSE:ZTS) by 23.4% in the third quarter, Holdings Channel reports. The institutional investor owned 2,466 shares of the company’s stock after buying an additional 467 shares during the period. Allen Capital Group LLC’s holdings in Zoetis were worth $482,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cetera Investment Advisers grew its stake in Zoetis by 275.2% in the first quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock valued at $16,259,000 after purchasing an additional 70,476 shares in the last quarter. Simplify Asset Management Inc. bought a new position in Zoetis in the third quarter valued at approximately $11,684,000. Soltis Investment Advisors LLC bought a new position in Zoetis in the first quarter valued at approximately $688,000. Bank Pictet & Cie Asia Ltd. lifted its position in shares of Zoetis by 41.0% in the second quarter. Bank Pictet & Cie Asia Ltd. now owns 37,500 shares of the company’s stock valued at $6,501,000 after buying an additional 10,900 shares during the last quarter. Finally, Swedbank AB lifted its position in shares of Zoetis by 56.2% in the second quarter. Swedbank AB now owns 1,946,277 shares of the company’s stock valued at $337,407,000 after buying an additional 700,398 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Zoetis Stock Performance

NYSE:ZTS opened at $176.98 on Friday. The stock has a market cap of $79.85 billion, a P/E ratio of 33.27, a PEG ratio of 2.71 and a beta of 0.90. The stock has a 50 day simple moving average of $185.62 and a 200 day simple moving average of $180.53. 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 Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.12. The firm 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%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 EPS. Research analysts anticipate 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. Shareholders of record on Thursday, October 31st will be issued 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 0.98%. Zoetis’s dividend payout ratio is presently 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.