Erste Asset Management GmbH Purchases New Position in Zoetis Inc. (NYSE:ZTS)

Erste Asset Management GmbH acquired a new stake in Zoetis Inc. (NYSE:ZTS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 99,623 shares of the company’s stock, valued at approximately $19,446,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new position in shares of Zoetis in the third quarter valued at approximately $31,000. First Personal Financial Services bought a new stake in Zoetis during the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP acquired a new position in Zoetis in the 3rd quarter valued at approximately $33,000. Quarry LP raised its stake 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 acquiring an additional 153 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in shares of Zoetis by 1,387.5% during the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Down 0.8 %

Zoetis stock opened at $175.25 on Monday. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $79.07 billion, a PE ratio of 32.94, a PEG ratio of 2.69 and a beta of 0.89. The firm’s fifty day moving average is $183.83 and its 200 day moving average is $180.97. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92.

Zoetis (NYSE:ZTS) last released its quarterly earnings data 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. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The business’s revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts predict that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

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 issued a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.99%. Zoetis’s dividend payout ratio is 32.52%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZTS. 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 stock a “buy” rating in a research report on Monday, August 12th. Stifel Nicolaus upped their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Piper Sandler upped their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Zoetis presently has a consensus 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.