Axxcess Wealth Management LLC Grows Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Axxcess Wealth Management LLC raised its position in shares of Zoetis Inc. (NYSE:ZTS) by 17.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,826 shares of the company’s stock after buying an additional 1,458 shares during the period. Axxcess Wealth Management LLC’s holdings in Zoetis were worth $1,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Focus Financial Network Inc. ADV purchased a new position in Zoetis in the fourth quarter valued at $2,159,000. Price T Rowe Associates Inc. MD boosted its holdings in Zoetis by 31.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock valued at $2,707,262,000 after purchasing an additional 3,244,074 shares during the period. Ninety One UK Ltd boosted its holdings in Zoetis by 13.1% in the fourth quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock valued at $21,374,000 after purchasing an additional 12,537 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Zoetis by 10.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock valued at $36,230,000 after purchasing an additional 17,976 shares during the period. Finally, Axiom Investors LLC DE boosted its holdings in Zoetis by 36.3% in the fourth quarter. Axiom Investors LLC DE now owns 594,474 shares of the company’s stock valued at $117,331,000 after purchasing an additional 158,459 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Stifel Nicolaus decreased their price target on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. The Goldman Sachs Group lowered their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Barclays lowered their price objective on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. HSBC lowered their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price objective (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $212.67.

Zoetis Stock Performance

Shares of NYSE ZTS traded down $0.92 during trading hours on Friday, reaching $179.84. The stock had a trading volume of 2,437,326 shares, compared to its average volume of 1,885,429. The firm has a market cap of $82.06 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.81 and a beta of 0.86. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The firm has a 50-day moving average of $174.51 and a 200-day moving average of $176.29.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.34 by $0.04. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 EPS. Equities research analysts predict that Zoetis Inc. will post 5.76 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, July 18th. Zoetis’s dividend payout ratio is presently 33.33%.

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.