Confluence Wealth Services Inc. Has $304,000 Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Confluence Wealth Services Inc. grew its holdings in Zoetis Inc. (NYSE:ZTS) by 15.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,555 shares of the company’s stock after acquiring an additional 213 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Zoetis were worth $304,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ZTS. Quarry LP boosted its holdings in shares of Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. LRI Investments LLC bought a new position in Zoetis in the first quarter valued at about $43,000. Fortitude Family Office LLC raised its stake in Zoetis by 1,387.5% during the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after acquiring an additional 222 shares in the last quarter. Central Valley Advisors LLC acquired a new stake in shares of Zoetis in the 2nd quarter valued at approximately $49,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Zoetis during the 2nd quarter valued at approximately $56,000. 92.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ZTS. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Stifel Nicolaus boosted their price target on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Piper Sandler raised their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, BTIG Research boosted their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Down 3.7 %

Zoetis stock opened at $175.18 on Tuesday. The firm has a 50 day moving average price of $188.84 and a two-hundred day moving average price of $179.03. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The firm has a market cap of $79.37 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 2.78 and a beta of 0.90.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. Zoetis’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts predict that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.99%. Zoetis’s payout ratio is 33.66%.

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.