Harbor Advisory Corp MA Acquires Shares of 1,090 Zoetis Inc. (NYSE:ZTS)

Harbor Advisory Corp MA acquired a new stake in Zoetis Inc. (NYSE:ZTS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,090 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Zoetis by 1.0% in the 1st 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 increased its stake in shares of Zoetis by 4.0% in 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 acquiring an additional 178,303 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Zoetis by 2.3% in the 1st quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock worth $685,416,000 after acquiring an additional 90,330 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Zoetis by 5.8% in the 2nd quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock worth $527,774,000 after acquiring an additional 166,517 shares during the last quarter. Finally, Sarasin & Partners LLP increased its stake in shares of 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 acquiring an additional 1,904,899 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Down 0.5 %

Zoetis stock traded down $0.93 during midday trading on Tuesday, reaching $188.52. 328,843 shares of the stock traded hands, compared to its average volume of 2,507,519. The company has a 50-day simple moving average of $189.09 and a two-hundred day simple moving average of $177.34. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The firm has a market cap of $86.02 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 3.00 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 earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. Zoetis’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the business posted $1.41 EPS. Research analysts expect that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business 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 $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is presently 33.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZTS. Stifel Nicolaus raised their target price 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 raised 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. BTIG Research raised their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. raised their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Argus raised Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average 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.