BCS Wealth Management Makes New Investment in Zoetis Inc. (NYSE:ZTS)

BCS Wealth Management purchased a new stake in Zoetis Inc. (NYSE:ZTS) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 1,423 shares of the company’s stock, valued at approximately $278,000.

Several other hedge funds have also made changes to their positions in ZTS. Vanguard Group Inc. raised its position in Zoetis by 1.0% during the first quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock worth $6,895,235,000 after acquiring an additional 414,605 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Zoetis by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock worth $812,695,000 after purchasing an additional 178,303 shares during the period. Capital Research Global Investors grew its stake in shares of Zoetis by 2.3% in the first quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock valued at $685,416,000 after buying an additional 90,330 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Zoetis by 5.8% during the 2nd quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock valued at $527,774,000 after purchasing an additional 166,517 shares in the last quarter. Finally, Sarasin & Partners LLP lifted its holdings in Zoetis by 546.3% in the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after buying an additional 1,904,899 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Down 1.8 %

Zoetis stock opened at $191.00 on Friday. The company’s 50 day simple moving average is $188.82 and its 200 day simple moving average is $176.80. The firm has a market capitalization of $87.15 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 2.99 and a beta of 0.89. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 EPS. As a group, sell-side analysts anticipate that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders 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 annualized dividend and a dividend yield of 0.90%. Zoetis’s dividend payout ratio is presently 33.14%.

Analyst Upgrades and Downgrades

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

Zoetis Company 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.