Concurrent Investment Advisors LLC Boosts Stake in Zoetis Inc. (NYSE:ZTS)

Concurrent Investment Advisors LLC raised its holdings in Zoetis Inc. (NYSE:ZTS) by 7.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,674 shares of the company’s stock after acquiring an additional 635 shares during the period. Concurrent Investment Advisors LLC’s holdings in Zoetis were worth $1,890,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Quarry LP raised its stake in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after acquiring an additional 222 shares during the last quarter. LRI Investments LLC purchased a new position in Zoetis in the first quarter worth $43,000. Central Valley Advisors LLC purchased a new stake in Zoetis during the second quarter valued at about $49,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Zoetis during the third quarter valued at about $59,000. Institutional investors own 92.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ZTS. Piper Sandler increased 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. increased their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research increased their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus upped their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $221.44.

Zoetis Stock Performance

NYSE:ZTS opened at $174.34 on Friday. 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 firm’s fifty day simple moving average is $188.46 and its 200 day simple moving average is $179.17. The stock has a market cap of $78.98 billion, a P/E ratio of 32.77, a price-to-earnings-growth ratio of 2.68 and a beta of 0.90. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92.

Zoetis (NYSE:ZTS) last announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 52.59%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts predict that Zoetis Inc. will post 5.91 EPS for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is presently 32.33%.

About Zoetis

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.