Janney Montgomery Scott LLC Raises Holdings in Zoetis Inc. (NYSE:ZTS)

Janney Montgomery Scott LLC lifted its holdings in Zoetis Inc. (NYSE:ZTS) by 3.2% during the third quarter, Holdings Channel reports. The institutional investor owned 103,884 shares of the company’s stock after purchasing an additional 3,208 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Zoetis were worth $20,297,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Quarry LP grew its stake in shares of Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after purchasing an additional 153 shares during the period. LRI Investments LLC purchased a new position in Zoetis in the first quarter valued at about $43,000. Fortitude Family Office LLC lifted its position in shares of Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after acquiring an additional 222 shares during the period. Central Valley Advisors LLC purchased a new stake in shares of Zoetis during the 2nd quarter worth approximately $49,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Zoetis in the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Up 0.1 %

Shares of NYSE ZTS opened at $175.27 on Wednesday. The firm has a market cap of $79.41 billion, a P/E ratio of 34.30, a price-to-earnings-growth ratio of 2.82 and a beta of 0.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The firm’s 50 day moving average price is $188.71 and its 200 day moving average price is $179.23.

Zoetis (NYSE:ZTS) last posted 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 business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 earnings per share. As a group, sell-side analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 33.86%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZTS. Piper Sandler lifted their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. BTIG Research raised 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. Stifel Nicolaus increased their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $221.44.

Zoetis Company 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.