SteelPeak Wealth LLC Takes Position in Zoetis Inc. (NYSE:ZTS)

SteelPeak Wealth LLC acquired a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,257 shares of the company's stock, valued at approximately $368,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Zoetis by 0.5% during the 3rd quarter. State Street Corp now owns 19,779,344 shares of the company's stock worth $3,864,488,000 after acquiring an additional 95,856 shares during the period. Geode Capital Management LLC increased its stake in Zoetis by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,427,760 shares of the company's stock worth $2,030,813,000 after acquiring an additional 185,364 shares during the period. Mizuho Securities USA LLC increased its stake in Zoetis by 13,726.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company's stock worth $950,524,000 after acquiring an additional 4,829,815 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Zoetis by 5.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,896,106 shares of the company's stock worth $761,221,000 after acquiring an additional 194,542 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Zoetis by 10.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company's stock worth $569,834,000 after acquiring an additional 279,092 shares during the period. Institutional investors own 92.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Leerink Partners assumed coverage on Zoetis in a research note on Monday, December 2nd. They issued an "outperform" rating and a $215.00 price target on the stock. Leerink Partnrs upgraded Zoetis to a "strong-buy" rating in a research note on Monday, December 2nd. Morgan Stanley decreased their price target on Zoetis from $248.00 to $243.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price target on Zoetis from $225.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus decreased their price target on Zoetis from $210.00 to $180.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $215.00.

Zoetis Trading Up 0.6 %

ZTS traded up $1.03 during midday trading on Monday, hitting $171.93. 2,602,022 shares of the company were exchanged, compared to its average volume of 2,685,136. The firm has a market capitalization of $77.57 billion, a P/E ratio of 32.32, a P/E/G ratio of 2.72 and a beta of 0.89. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $200.53. The firm's 50 day moving average price is $169.62 and its 200-day moving average price is $179.44. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.46 by $0.12. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 EPS. As a group, equities analysts forecast that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. This is an increase from Zoetis's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, January 21st. Zoetis's payout ratio is currently 37.59%.

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.