Cabot Wealth Management Inc. Has $11.77 Million Holdings in Zoetis Inc. (NYSE:ZTS)

Cabot Wealth Management Inc. lifted its stake in Zoetis Inc. (NYSE:ZTS) by 0.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 60,236 shares of the company’s stock after buying an additional 415 shares during the quarter. Zoetis makes up about 1.5% of Cabot Wealth Management Inc.’s holdings, making the stock its 28th biggest holding. Cabot Wealth Management Inc.’s holdings in Zoetis were worth $11,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ZTS. Webster Bank N. A. raised its holdings in shares of Zoetis by 89.1% in the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. Quarry LP raised its holdings in shares of Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Zoetis in the 1st quarter worth approximately $43,000. Hazlett Burt & Watson Inc. increased its holdings in Zoetis by 60.7% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock valued at $46,000 after purchasing an additional 102 shares in the last quarter. Finally, Central Valley Advisors LLC acquired a new stake in Zoetis during the 2nd quarter valued at $49,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Zoetis Trading Down 0.1 %

Shares of NYSE:ZTS traded down $0.26 during midday trading on Tuesday, hitting $192.39. The company had a trading volume of 1,414,541 shares, compared to its average volume of 2,540,237. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The stock has a market cap of $87.79 billion, a price-to-earnings ratio of 37.12, a PEG ratio of 2.95 and a beta of 0.89. The firm has a fifty day simple moving average of $188.43 and a 200 day simple moving average of $176.42.

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

Zoetis Announces Dividend

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 paid a dividend of $0.432 per share. 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 presently 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.