IAM Advisory LLC Increases Stock Holdings in Zoetis Inc. (NYSE:ZTS)

IAM Advisory LLC lifted its stake in shares of Zoetis Inc. (NYSE:ZTS) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,554 shares of the company’s stock after buying an additional 258 shares during the quarter. IAM Advisory LLC’s holdings in Zoetis were worth $1,656,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Focus Financial Network Inc. ADV purchased a new stake in Zoetis during the 4th quarter worth approximately $2,159,000. Price T Rowe Associates Inc. MD increased its holdings in Zoetis by 31.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares during the last quarter. Ninety One UK Ltd increased its holdings in Zoetis by 13.1% during the 4th quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock worth $21,374,000 after purchasing an additional 12,537 shares during the last quarter. Axiom Investors LLC DE increased its holdings in Zoetis by 36.3% during the 4th quarter. Axiom Investors LLC DE now owns 594,474 shares of the company’s stock worth $117,331,000 after purchasing an additional 158,459 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new position in shares of Zoetis in the 1st quarter worth approximately $8,831,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Stock Down 1.6 %

NYSE:ZTS traded down $3.05 during trading hours on Friday, hitting $185.25. 1,881,668 shares of the company’s stock traded hands, compared to its average volume of 2,790,747. The firm has a market cap of $84.53 billion, a P/E ratio of 35.69, a P/E/G ratio of 2.85 and a beta of 0.86. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. The stock’s fifty day moving average price is $176.79 and its two-hundred day moving average price is $175.31.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.07. Zoetis had a return on equity of 50.47% and a net margin of 26.29%. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the firm earned $1.41 earnings per share. Zoetis’s quarterly revenue was up 8.3% on a year-over-year basis. On average, research analysts expect that Zoetis Inc. will post 5.81 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be given a $0.432 dividend. The ex-dividend date is Thursday, July 18th. This represents a $1.73 annualized dividend and a dividend yield of 0.93%. Zoetis’s dividend payout ratio is currently 33.14%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ZTS shares. BTIG Research started coverage on Zoetis in a research report on Thursday, July 25th. They set a “buy” rating and a $220.00 price objective for the company. Barclays reduced their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Stifel Nicolaus increased their price target on Zoetis from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Finally, The Goldman Sachs Group decreased their price target on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Zoetis currently has a consensus rating of “Buy” and a consensus target price of $214.89.

Zoetis 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.