Tyche Wealth Partners LLC Buys New Position in Zoetis Inc. (NYSE:ZTS)

Tyche Wealth Partners LLC bought a new stake in Zoetis Inc. (NYSE:ZTS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,076 shares of the company’s stock, valued at approximately $501,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cherry Creek Investment Advisors Inc. boosted its position in shares of Zoetis by 2.0% during the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock valued at $590,000 after purchasing an additional 58 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Zoetis by 0.5% during the 3rd quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock valued at $2,298,000 after purchasing an additional 61 shares in the last quarter. Hancock Whitney Corp boosted its position in shares of Zoetis by 0.3% during the 3rd quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock valued at $3,628,000 after purchasing an additional 61 shares in the last quarter. Strategy Asset Managers LLC boosted its position in shares of Zoetis by 3.5% during the 3rd quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company’s stock valued at $356,000 after purchasing an additional 62 shares in the last quarter. Finally, Procyon Advisors LLC boosted its position in shares of Zoetis by 1.4% during the 4th quarter. Procyon Advisors LLC now owns 4,712 shares of the company’s stock valued at $768,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

NYSE ZTS opened at $174.07 on Friday. The company has a 50 day simple moving average of $169.39 and a 200-day simple moving average of $179.32. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. The firm has a market capitalization of $78.54 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.72 and a beta of 0.90. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $200.53.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The business 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 firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 earnings per share. Equities research analysts predict that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from Zoetis’s previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, January 21st. Zoetis’s dividend payout ratio is 37.59%.

Wall Street Analysts Forecast Growth

ZTS has been the subject of several research reports. Stifel Nicolaus reduced their price objective on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Leerink Partnrs upgraded shares of Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. raised their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Morgan Stanley decreased their target price on shares of Zoetis from $248.00 to $243.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Leerink Partners began coverage on shares of Zoetis in a report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price for the company. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $215.00.

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.