Oliver Luxxe Assets LLC Takes $206,000 Position in Zoetis Inc. (NYSE:ZTS)

Oliver Luxxe Assets LLC bought a new position in shares of Zoetis Inc. (NYSE:ZTS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,055 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Global Assets Advisory LLC acquired a new stake in Zoetis during the first quarter worth about $8,831,000. Franklin Street Advisors Inc. NC lifted its stake in shares of Zoetis by 4.3% in the 1st quarter. Franklin Street Advisors Inc. NC now owns 121,024 shares of the company’s stock valued at $20,478,000 after purchasing an additional 5,035 shares during the period. Prevail Innovative Wealth Advisors LLC grew its position in Zoetis by 24.5% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock valued at $3,211,000 after buying an additional 3,738 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Zoetis by 58.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,931 shares of the company’s stock valued at $7,095,000 after buying an additional 15,491 shares in the last quarter. Finally, Duality Advisers LP raised its position in shares of Zoetis by 43.7% in the first quarter. Duality Advisers LP now owns 40,641 shares of the company’s stock worth $6,877,000 after acquiring an additional 12,359 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of NYSE ZTS opened at $192.65 on Tuesday. The firm has a 50-day simple moving average of $188.43 and a 200-day simple moving average of $176.42. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $87.91 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 2.95 and a beta of 0.89. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the company posted $1.41 EPS. On average, equities analysts predict that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is currently 33.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ZTS shares. Stifel Nicolaus raised their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler boosted their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upped their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday. BTIG Research lifted their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $221.44.

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.