B. Riley Wealth Advisors Inc. Has $2.79 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

B. Riley Wealth Advisors Inc. increased its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 17.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,016 shares of the company’s stock after purchasing an additional 2,370 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Zoetis were worth $2,786,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ZTS. Norges Bank bought a new position in shares of Zoetis in the fourth quarter valued at approximately $980,646,000. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $2,707,262,000 after purchasing an additional 3,244,074 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Zoetis in the fourth quarter valued at approximately $242,757,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Zoetis by 122.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,448,665 shares of the company’s stock valued at $285,923,000 after purchasing an additional 797,884 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Zoetis by 44.4% in the fourth quarter. Corient Private Wealth LLC now owns 1,953,508 shares of the company’s stock valued at $385,564,000 after purchasing an additional 600,804 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ZTS has been the topic of a number of recent research reports. Barclays dropped their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. The Goldman Sachs Group decreased their target price on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Stifel Nicolaus decreased their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Finally, HSBC reduced their price target on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $212.67.

Zoetis Trading Up 2.7 %

Shares of ZTS stock opened at $184.99 on Thursday. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. The business has a 50-day moving average price of $175.00 and a two-hundred day moving average price of $175.80. 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 $84.41 billion, a P/E ratio of 34.69, a price-to-earnings-growth ratio of 2.82 and a beta of 0.86.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the company posted $1.31 EPS. Zoetis’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities analysts anticipate that Zoetis Inc. will post 5.76 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio (DPR) is currently 33.33%.

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.