Cherry Creek Investment Advisors Inc. Buys 58 Shares of Zoetis Inc. (NYSE:ZTS)

Cherry Creek Investment Advisors Inc. grew its stake in shares of Zoetis Inc. (NYSE:ZTS) by 2.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,021 shares of the company’s stock after buying an additional 58 shares during the quarter. Cherry Creek Investment Advisors Inc.’s holdings in Zoetis were worth $590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prevail Innovative Wealth Advisors LLC grew its stake in shares of Zoetis by 24.5% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock worth $3,211,000 after purchasing an additional 3,738 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Zoetis by 58.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,931 shares of the company’s stock valued at $7,095,000 after buying an additional 15,491 shares during the period. Duality Advisers LP lifted its holdings in Zoetis by 43.7% in the first quarter. Duality Advisers LP now owns 40,641 shares of the company’s stock valued at $6,877,000 after buying an additional 12,359 shares during the period. M&G Plc acquired a new position in Zoetis in the first quarter valued at $19,819,000. Finally, Cetera Investment Advisers lifted its holdings 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 buying an additional 70,476 shares during the period. Institutional investors own 92.80% of the company’s stock.

Zoetis Trading Down 0.3 %

ZTS opened at $188.99 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The firm has a market capitalization of $85.62 billion, a PE ratio of 36.98, a P/E/G ratio of 2.94 and a beta of 0.89. The company’s 50-day moving average is $189.23 and its 200 day moving average is $177.58.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the business posted $1.41 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, research analysts predict that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors 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 dividend on an annualized basis and a dividend yield of 0.91%. Zoetis’s dividend payout ratio is presently 33.86%.

Analysts Set New Price Targets

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

Zoetis Company 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.