Prime Capital Investment Advisors LLC Grows Position in Zoetis Inc. (NYSE:ZTS)

Prime Capital Investment Advisors LLC grew its stake in Zoetis Inc. (NYSE:ZTS) by 319.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,938 shares of the company’s stock after buying an additional 28,897 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Zoetis were worth $6,577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in 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. Price T Rowe Associates Inc. MD raised its stake in shares of Zoetis by 31.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares during the last quarter. Capital World Investors lifted its holdings in shares of Zoetis by 0.6% during the fourth quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock worth $1,788,988,000 after purchasing an additional 57,798 shares during the period. Norges Bank purchased a new stake in Zoetis in the fourth quarter valued at approximately $980,646,000. Finally, Bank of New York Mellon Corp boosted its position in Zoetis by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock valued at $812,695,000 after buying an additional 178,303 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

NYSE ZTS opened at $191.09 on Monday. The stock has a market capitalization of $86.57 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 2.92 and a beta of 0.88. The stock has a 50-day moving average of $182.85 and a 200 day moving average of $174.14. 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 Inc. has a twelve month low of $144.80 and a twelve month high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.31 billion. During the same period in the previous year, the business earned $1.41 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Zoetis Inc. will post 5.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on ZTS. Piper Sandler lifted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus reissued a “buy” rating and set a $200.00 target price on shares of Zoetis in a report on Tuesday, August 27th. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Finally, BTIG Research lifted their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $217.11.

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.