Public Sector Pension Investment Board Boosts Stock Position in Zoetis Inc. (NYSE:ZTS)

Public Sector Pension Investment Board grew its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 947.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180,981 shares of the company’s stock after buying an additional 163,700 shares during the quarter. Public Sector Pension Investment Board’s holdings in Zoetis were worth $35,360,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ZTS. Darwin Wealth Management LLC bought a new position in Zoetis during the 3rd quarter valued at $31,000. First Personal Financial Services bought a new stake in shares of Zoetis in the 3rd quarter worth about $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Zoetis in the 3rd quarter valued at about $33,000. Quarry LP lifted its position 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 purchasing an additional 153 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Zoetis in the first quarter worth about $43,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Trading Up 0.6 %

Shares of NYSE:ZTS opened at $176.74 on Thursday. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The company has a market cap of $79.74 billion, a PE ratio of 33.22, a P/E/G ratio of 2.70 and a beta of 0.90. The company’s 50-day moving average price is $184.51 and its 200 day moving average price is $180.81.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the firm posted $1.36 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Dividend Announcement

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 paid a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. Zoetis’s payout ratio is 32.52%.

Wall Street Analysts Forecast Growth

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

Zoetis 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.