Kestra Investment Management LLC Takes Position in Zoetis Inc. (NYSE:ZTS)

Kestra Investment Management LLC purchased a new stake in Zoetis Inc. (NYSE:ZTS - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,928 shares of the company's stock, valued at approximately $572,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZTS. FSA Wealth Management LLC acquired a new stake in shares of Zoetis in the third quarter valued at approximately $83,000. B&L Asset Management LLC acquired a new stake in Zoetis during the 3rd quarter valued at $563,000. Erste Asset Management GmbH purchased a new position in Zoetis during the third quarter worth $19,446,000. Morton Community Bank acquired a new position in shares of Zoetis in the third quarter worth $3,124,000. Finally, Bellevue Group AG lifted its position in shares of Zoetis by 79.7% in the third quarter. Bellevue Group AG now owns 5,284 shares of the company's stock valued at $1,032,000 after acquiring an additional 2,343 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ZTS shares. Stifel Nicolaus lifted their price objective on Zoetis from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Argus raised shares of Zoetis to a "strong-buy" rating in a research report on Friday, August 9th. Leerink Partners started coverage on shares of Zoetis in a research report on Monday. They set an "outperform" rating and a $215.00 target price on the stock. Piper Sandler boosted 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. Finally, JPMorgan Chase & Co. raised their price objective on Zoetis from $225.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Zoetis currently has an average rating of "Buy" and an average price target of $220.80.

Zoetis Trading Up 0.3 %

Shares of NYSE:ZTS traded up $0.54 during trading on Monday, reaching $175.79. 984,520 shares of the stock were exchanged, compared to its average volume of 2,538,887. The firm's 50-day moving average price is $183.83 and its 200 day moving average price is $180.97. The firm has a market cap of $79.31 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 2.69 and a beta of 0.89. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.12. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 earnings per share. On average, sell-side analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Thursday, October 31st. Zoetis's dividend payout ratio is presently 32.52%.

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.