Aigen Investment Management LP Invests $1.94 Million in Zoetis Inc. (NYSE:ZTS)

Aigen Investment Management LP purchased a new position in Zoetis Inc. (NYSE:ZTS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,906 shares of the company’s stock, valued at approximately $1,935,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Empowered Funds LLC grew its position in shares of Zoetis by 26.3% in the 1st quarter. Empowered Funds LLC now owns 8,017 shares of the company’s stock worth $1,357,000 after buying an additional 1,671 shares during the last quarter. US Bancorp DE boosted its holdings in Zoetis by 1.8% in the first quarter. US Bancorp DE now owns 151,276 shares of the company’s stock valued at $25,600,000 after acquiring an additional 2,623 shares in the last quarter. Avantax Advisory Services Inc. increased its position in Zoetis by 6.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 10,223 shares of the company’s stock valued at $1,730,000 after purchasing an additional 596 shares during the period. William Allan Corp raised its holdings in Zoetis by 1.8% in the 1st quarter. William Allan Corp now owns 12,425 shares of the company’s stock worth $2,102,000 after purchasing an additional 225 shares in the last quarter. Finally, Rogco LP lifted its position in shares of Zoetis by 36.4% in the 1st quarter. Rogco LP now owns 1,987 shares of the company’s stock worth $336,000 after purchasing an additional 530 shares during the period. Institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Piper Sandler lifted 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 price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus upped their price objective on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. BTIG Research lifted their target price on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Argus upgraded Zoetis to a “strong-buy” rating in a research note 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. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $221.44.

Zoetis Stock Performance

Shares of NYSE:ZTS traded down $0.96 during mid-day trading on Tuesday, reaching $175.19. 213,340 shares of the company traded hands, compared to its average volume of 2,531,095. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.09. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The firm has a market cap of $79.04 billion, a PE ratio of 33.11, a PEG ratio of 2.71 and a beta of 0.90. The company’s 50 day moving average price is $188.00 and its 200-day moving average price is $179.93.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the firm earned $1.36 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts expect that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.99%. Zoetis’s payout ratio is 32.33%.

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.