Legacy Capital Group California Inc. Invests $935,000 in Zoetis Inc. (NYSE:ZTS)

Legacy Capital Group California Inc. purchased a new stake in shares of Zoetis Inc. (NYSE:ZTS) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 4,784 shares of the company’s stock, valued at approximately $935,000.

Other large investors have also added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new stake in shares of Zoetis in the 1st quarter worth approximately $51,000. Procyon Advisors LLC lifted its position in shares of Zoetis by 20.2% in the 1st quarter. Procyon Advisors LLC now owns 5,423 shares of the company’s stock worth $918,000 after purchasing an additional 911 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Zoetis by 7.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 244,348 shares of the company’s stock valued at $41,346,000 after buying an additional 17,488 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in Zoetis by 44.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,493 shares of the company’s stock worth $760,000 after buying an additional 1,383 shares in the last quarter. Finally, Norway Savings Bank lifted its holdings in Zoetis by 5.6% in the first quarter. Norway Savings Bank now owns 4,832 shares of the company’s stock worth $818,000 after buying an additional 255 shares during the period. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 4.0 %

ZTS stock opened at $181.52 on Friday. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The business has a fifty day moving average price of $189.23 and a 200-day moving average price of $177.58. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The stock has a market capitalization of $82.24 billion, a P/E ratio of 35.52, a P/E/G ratio of 2.94 and a beta of 0.89.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. Equities analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

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 paid a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.95%. Zoetis’s dividend payout ratio is currently 33.86%.

Analyst Upgrades and Downgrades

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