Empowered Funds LLC Buys 8,058 Shares of Zoetis Inc. (NYSE:ZTS)

Empowered Funds LLC boosted its stake in Zoetis Inc. (NYSE:ZTS) by 90.6% in the 3rd quarter, Holdings Channel reports. The firm owned 16,952 shares of the company’s stock after acquiring an additional 8,058 shares during the quarter. Empowered Funds LLC’s holdings in Zoetis were worth $3,312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. First Personal Financial Services purchased a new position in Zoetis during the third quarter valued at approximately $33,000. Capital Performance Advisors LLP purchased a new position in shares of Zoetis during the 3rd quarter valued at $33,000. Quarry LP increased its holdings in shares of Zoetis by 273.2% in the second 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 stake in shares of Zoetis in the first quarter worth $43,000. Finally, Fortitude Family Office LLC boosted its stake in Zoetis by 1,387.5% during the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after buying an additional 222 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZTS. Stifel Nicolaus upped their target price on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research lifted their target price on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. increased their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Piper Sandler raised their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Zoetis has an average rating of “Buy” and an average target price of $221.44.

Zoetis Stock Performance

NYSE ZTS opened at $176.42 on Tuesday. The firm has a market cap of $79.59 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.69 and a beta of 0.90. The company has a 50-day simple moving average of $186.78 and a two-hundred day simple moving average of $180.45. 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 Inc. has a 12-month low of $144.80 and a 12-month high of $201.92.

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 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 business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the company earned $1.36 EPS. Zoetis’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.98%. Zoetis’s payout ratio is currently 32.33%.

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.