Kingsview Wealth Management LLC Grows Position in Zoetis Inc. (NYSE:ZTS)

Kingsview Wealth Management LLC raised its position in Zoetis Inc. (NYSE:ZTS) by 8.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 9,889 shares of the company’s stock after purchasing an additional 775 shares during the period. Kingsview Wealth Management LLC’s holdings in Zoetis were worth $1,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Darwin Wealth Management LLC acquired a new position in shares of Zoetis in the 3rd quarter valued at $31,000. First Personal Financial Services acquired a new position in Zoetis in the third quarter valued at $33,000. Capital Performance Advisors LLP purchased a new stake in shares of Zoetis in the third quarter valued at about $33,000. Quarry LP boosted its stake in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Zoetis during the first quarter worth about $43,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Price Performance

ZTS stock opened at $178.70 on Tuesday. The firm has a 50 day moving average of $185.31 and a 200-day moving average of $180.79. The company has a market cap of $80.62 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26.

Zoetis (NYSE:ZTS) last released 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. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. As a group, equities analysts expect that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be given a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.97%. Zoetis’s dividend payout ratio is presently 32.52%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler increased their price objective 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 shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Stifel Nicolaus boosted their price objective 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. JPMorgan Chase & Co. raised their target price on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, BTIG Research boosted their price target on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $221.44.

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.