SevenBridge Financial Group LLC Acquires 627 Shares of Zoetis Inc. (NYSE:ZTS)

SevenBridge Financial Group LLC lifted its stake in Zoetis Inc. (NYSE:ZTS) by 38.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,244 shares of the company’s stock after purchasing an additional 627 shares during the period. SevenBridge Financial Group LLC’s holdings in Zoetis were worth $438,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Larson Financial Group LLC boosted its holdings in Zoetis by 14.8% during the third quarter. Larson Financial Group LLC now owns 1,588 shares of the company’s stock worth $310,000 after buying an additional 205 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its stake in Zoetis by 1.7% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 5,340 shares of the company’s stock worth $1,043,000 after acquiring an additional 90 shares during the last quarter. Algert Global LLC boosted its stake in Zoetis by 1,182.5% during the 3rd quarter. Algert Global LLC now owns 24,676 shares of the company’s stock worth $4,821,000 after acquiring an additional 22,752 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in Zoetis by 8.5% during the third quarter. Kingsview Wealth Management LLC now owns 9,889 shares of the company’s stock valued at $1,932,000 after purchasing an additional 775 shares during the period. Finally, Cerity Partners LLC increased its stake in Zoetis by 29.0% in the third quarter. Cerity Partners LLC now owns 152,822 shares of the company’s stock valued at $29,859,000 after purchasing an additional 34,359 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Trading Up 0.1 %

NYSE:ZTS opened at $176.96 on Friday. The company has a market cap of $79.84 billion, a P/E ratio of 33.26, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The business has a 50 day moving average price of $185.62 and a two-hundred day moving average price of $180.61. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The business had revenue of $2.40 billion for 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 firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. As a group, analysts expect that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently announced 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. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 32.52%.

Analysts Set New Price Targets

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

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.