Kestra Investment Management LLC Makes New Investment in Zoetis Inc. (NYSE:ZTS)

Kestra Investment Management LLC purchased a new stake in shares of Zoetis Inc. (NYSE:ZTS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,928 shares of the company’s stock, valued at approximately $572,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in Zoetis during the 3rd quarter valued at $31,000. First Personal Financial Services bought a new position in shares of Zoetis during the third quarter valued at $33,000. Capital Performance Advisors LLP bought a new position in shares of Zoetis during the third quarter valued at $33,000. Quarry LP boosted its position in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after buying an additional 153 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in Zoetis by 1,387.5% in the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after buying an additional 222 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of Zoetis stock opened at $175.25 on Monday. The stock’s fifty day moving average is $183.83 and its 200 day moving average is $180.97. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The stock has a market cap of $79.07 billion, a P/E ratio of 32.94, a P/E/G ratio of 2.69 and a beta of 0.89.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data 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. The firm had revenue of $2.40 billion for 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 business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. Sell-side analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.99%. Zoetis’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ZTS shares. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research note 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 research report on Monday, August 12th. Piper Sandler lifted their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus boosted their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. raised their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Ten research 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 stock has a consensus rating of “Buy” and a consensus 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.