Zoetis Inc. (NYSE:ZTS) Shares Acquired by Precedent Wealth Partners LLC

Precedent Wealth Partners LLC lifted its position in Zoetis Inc. (NYSE:ZTS) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,975 shares of the company’s stock after acquiring an additional 210 shares during the period. Precedent Wealth Partners LLC’s holdings in Zoetis were worth $811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZTS. Darwin Wealth Management LLC purchased a new position in shares of Zoetis during the third quarter worth $31,000. First Personal Financial Services purchased a new position in shares of Zoetis during the 3rd quarter valued at about $33,000. Capital Performance Advisors LLP acquired a new position in shares of Zoetis in the 3rd quarter valued at about $33,000. Dunhill Financial LLC boosted its stake in shares of Zoetis by 80.6% in the third quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock worth $33,000 after buying an additional 75 shares during the last quarter. Finally, Quarry LP grew its holdings in Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after acquiring an additional 153 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of NYSE:ZTS opened at $168.63 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $200.53. The firm has a market capitalization of $76.08 billion, a PE ratio of 31.70, a P/E/G ratio of 2.57 and a beta of 0.89. The business’s 50 day moving average price is $170.10 and its 200-day moving average price is $179.66.

Zoetis (NYSE:ZTS) last released 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 analyst estimates of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 earnings per share. As a group, equities research analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, January 21st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.19%. This is a positive change from Zoetis’s previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, January 21st. Zoetis’s dividend payout ratio (DPR) is 37.59%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ZTS shares. UBS Group began coverage on Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price target for the company. Stifel Nicolaus lowered their price target on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. increased their target price on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Leerink Partners initiated coverage on Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price target for the company. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $211.89.

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.