Zoetis (NYSE:ZTS) Price Target Increased to $230.00 by Analysts at JPMorgan Chase & Co.

Zoetis (NYSE:ZTS) had its target price hoisted by JPMorgan Chase & Co. from $225.00 to $230.00 in a report published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

ZTS has been the topic of several other research reports. Piper Sandler increased their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an overweight rating in a report on Wednesday, August 14th. 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 research note on Monday, August 12th. Stifel Nicolaus lifted their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a buy rating in a research note on Wednesday, September 18th. Finally, Argus raised shares of Zoetis to a strong-buy rating in a research note on Friday, August 9th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s 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

ZTS stock opened at $190.11 on Friday. The firm has a market cap of $86.13 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 2.95 and a beta of 0.89. The firm has a 50-day simple moving average of $188.07 and a two-hundred day simple moving average of $176.12. Zoetis has a one year low of $144.80 and a one year high of $201.92. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. The business had revenue of $2.36 billion during 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 company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 earnings per share. On average, equities analysts forecast that Zoetis will post 5.83 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is 33.86%.

Hedge Funds Weigh In On Zoetis

Institutional investors have recently bought and sold shares of the company. Peloton Wealth Strategists boosted its holdings in shares of Zoetis by 5.5% in the fourth quarter. Peloton Wealth Strategists now owns 9,839 shares of the company’s stock valued at $1,942,000 after acquiring an additional 509 shares during the period. Able Wealth Management LLC acquired a new stake in shares of Zoetis in the fourth quarter valued at approximately $552,000. GLOBALT Investments LLC GA acquired a new stake in shares of Zoetis in the fourth quarter valued at approximately $2,296,000. Eventide Asset Management LLC boosted its holdings in shares of Zoetis by 41.0% in the fourth quarter. Eventide Asset Management LLC now owns 3,153 shares of the company’s stock valued at $622,000 after acquiring an additional 917 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Zoetis by 92.0% in the fourth quarter. V Square Quantitative Management LLC now owns 9,530 shares of the company’s stock valued at $1,881,000 after acquiring an additional 4,566 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

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.