Raymond James Financial Inc. Makes New Investment in Zoetis Inc. (NYSE:ZTS)

Raymond James Financial Inc. acquired a new position in shares of Zoetis Inc. (NYSE:ZTS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,206,966 shares of the company’s stock, valued at approximately $196,651,000. Raymond James Financial Inc. owned about 0.27% of Zoetis as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ZTS. Howard Capital Management Group LLC grew its holdings in shares of Zoetis by 0.8% during the third quarter. Howard Capital Management Group LLC now owns 104,866 shares of the company’s stock worth $20,489,000 after buying an additional 883 shares during the last quarter. Avidian Wealth Enterprises LLC grew its holdings in shares of Zoetis by 5.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 2,322 shares of the company’s stock worth $454,000 after buying an additional 111 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Zoetis by 7.0% during the third quarter. Concurrent Investment Advisors LLC now owns 9,674 shares of the company’s stock worth $1,890,000 after buying an additional 635 shares during the last quarter. M&G PLC grew its holdings in shares of Zoetis by 1.6% during the third quarter. M&G PLC now owns 77,230 shares of the company’s stock worth $15,060,000 after buying an additional 1,253 shares during the last quarter. Finally, Forte Capital LLC ADV grew its holdings in shares of Zoetis by 37.7% during the third quarter. Forte Capital LLC ADV now owns 2,063 shares of the company’s stock worth $403,000 after buying an additional 565 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

ZTS stock opened at $170.34 on Friday. The firm has a 50 day moving average of $166.72 and a 200-day moving average of $176.83. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.33. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The company has a market cap of $76.28 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.30 billion. As a group, equities analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. Zoetis’s dividend payout ratio is currently 36.56%.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total transaction of $55,804.68. Following the completion of the transaction, the executive vice president now directly owns 16,107 shares in the company, valued at $2,757,196.26. The trade was a 1.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the topic of a number of analyst reports. UBS Group initiated coverage on Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective on the stock. Morgan Stanley lowered their price objective on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. Barclays lifted their price objective on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Piper Sandler lifted their price objective on Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. One equities research 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 presently has an average rating of “Buy” and a consensus target price of $215.90.

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.