Assetmark Inc. Raises Stake in Zoetis Inc. (NYSE:ZTS)

Assetmark Inc. increased its position in shares of Zoetis Inc. (NYSE:ZTS) by 17.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,303 shares of the company’s stock after purchasing an additional 18,265 shares during the period. Assetmark Inc.’s holdings in Zoetis were worth $23,505,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Verdence Capital Advisors LLC boosted its stake in shares of Zoetis by 7.3% in the third quarter. Verdence Capital Advisors LLC now owns 7,347 shares of the company’s stock worth $1,435,000 after acquiring an additional 498 shares during the period. CWA Asset Management Group LLC purchased a new position in Zoetis in the 3rd quarter worth approximately $1,431,000. Capital Performance Advisors LLP purchased a new position in Zoetis in the 3rd quarter worth approximately $33,000. Summit Global Investments boosted its stake in Zoetis by 344.8% in the 3rd quarter. Summit Global Investments now owns 5,173 shares of the company’s stock worth $1,011,000 after purchasing an additional 4,010 shares during the period. Finally, Hara Capital LLC purchased a new stake in Zoetis during the 3rd quarter valued at approximately $95,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

Zoetis stock opened at $176.82 on Friday. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a market capitalization of $79.78 billion, a PE ratio of 33.24, a P/E/G ratio of 2.71 and a beta of 0.90. The company has a 50 day moving average price of $188.15 and a 200-day moving average price of $179.35. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.09 and a current ratio of 3.69.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the firm posted $1.36 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.98%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is 32.52%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ZTS shares. JPMorgan Chase & Co. lifted their price target on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Piper Sandler boosted their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research increased their target price on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus upped their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. 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.