Addison Capital Co Has $4.88 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Addison Capital Co reduced its stake in Zoetis Inc. (NYSE:ZTS) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,996 shares of the company’s stock after selling 173 shares during the quarter. Zoetis comprises 2.0% of Addison Capital Co’s holdings, making the stock its 16th largest holding. Addison Capital Co’s holdings in Zoetis were worth $4,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Webster Bank N. A. increased its holdings in Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares in the last quarter. Quarry LP increased its holdings in 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 in the last quarter. LRI Investments LLC bought a new stake in Zoetis in the first quarter worth approximately $43,000. Hazlett Burt & Watson Inc. increased its holdings in Zoetis by 60.7% in the first quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock worth $46,000 after purchasing an additional 102 shares in the last quarter. Finally, Central Valley Advisors LLC bought a new stake in Zoetis in the second quarter worth approximately $49,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Trading Down 1.8 %

Shares of Zoetis stock opened at $191.00 on Friday. The stock has a fifty day simple moving average of $188.82 and a 200 day simple moving average of $176.80. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a market capitalization of $87.15 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 2.99 and a beta of 0.89. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last announced its quarterly 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. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. Zoetis’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders 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 yield of 0.90%. Zoetis’s dividend payout ratio is currently 33.14%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ZTS. Stifel Nicolaus boosted their price objective on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Piper Sandler boosted their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. BTIG Research boosted their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company 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.