Revolve Wealth Partners LLC Cuts Position in Zoetis Inc. (NYSE:ZTS)

Revolve Wealth Partners LLC cut its holdings in Zoetis Inc. (NYSE:ZTS) by 6.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,199 shares of the company’s stock after selling 85 shares during the period. Revolve Wealth Partners LLC’s holdings in Zoetis were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hohimer Wealth Management LLC raised its holdings in shares of Zoetis by 1.2% in the 4th quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock worth $866,000 after purchasing an additional 52 shares during the period. Forum Financial Management LP raised its stake in Zoetis by 0.8% in the 4th quarter. Forum Financial Management LP now owns 7,386 shares of the company’s stock valued at $1,458,000 after acquiring an additional 56 shares during the period. Angeles Wealth Management LLC boosted its position in Zoetis by 3.5% during the fourth quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock worth $324,000 after purchasing an additional 56 shares during the period. Prossimo Advisors LLC increased its stake in shares of Zoetis by 1.7% in the fourth quarter. Prossimo Advisors LLC now owns 3,498 shares of the company’s stock worth $690,000 after purchasing an additional 57 shares in the last quarter. Finally, Forza Wealth Management LLC raised its position in shares of Zoetis by 1.8% in the second quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock valued at $574,000 after purchasing an additional 58 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on ZTS shares. BTIG Research raised their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. The Goldman Sachs Group cut their price target on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a report on Monday, May 6th. HSBC decreased their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Piper Sandler raised their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zoetis presently has an average rating of “Buy” and a consensus target price of $217.11.

Zoetis Price Performance

Zoetis stock traded down $0.37 during midday trading on Friday, hitting $183.71. 1,588,375 shares of the company’s stock were exchanged, compared to its average volume of 2,759,420. The company has a market cap of $83.83 billion, a P/E ratio of 35.40, a PEG ratio of 2.81 and a beta of 0.86. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The stock has a 50-day moving average price of $177.78 and a two-hundred day moving average price of $175.20. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. Zoetis’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. On average, equities research analysts forecast that Zoetis Inc. will post 5.84 earnings per share for the current year.

Zoetis Announces Dividend

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 issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s payout ratio is 33.14%.

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.