Lake Street Advisors Group LLC Increases Holdings in Zoetis Inc. (NYSE:ZTS)

Lake Street Advisors Group LLC raised its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 24.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,845 shares of the company’s stock after acquiring an additional 2,125 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Zoetis were worth $2,119,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Webster Bank N. A. increased its stake in Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the last quarter. Quarry LP grew its position in shares of Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after buying an additional 153 shares during the last quarter. LRI Investments LLC acquired a new stake in Zoetis during the 1st quarter worth $43,000. Central Valley Advisors LLC purchased a new stake in Zoetis in the second quarter valued at $49,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Zoetis in the first quarter valued at $51,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of Zoetis stock traded down $0.29 on Friday, reaching $181.21. 350,589 shares of the stock were exchanged, compared to its average volume of 2,507,020. 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 firm has a market capitalization of $82.69 billion, a PE ratio of 34.97, a PEG ratio of 2.94 and a beta of 0.89. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The business has a fifty day moving average price of $189.23 and a two-hundred day moving average price of $177.58.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the business posted $1.41 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

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 given a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.95%. Zoetis’s payout ratio is currently 33.14%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ZTS shares. Piper Sandler lifted their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus boosted their price objective on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. BTIG Research raised their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Argus raised shares of Zoetis to a “strong-buy” rating in a research report 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. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $221.44.

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.