Optas LLC Acquires Shares of 1,028 Zoetis Inc. (NYSE:ZTS)

Optas LLC bought a new position in Zoetis Inc. (NYSE:ZTS) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 1,028 shares of the company’s stock, valued at approximately $201,000.

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

Zoetis Stock Up 1.8 %

Shares of NYSE ZTS opened at $181.95 on Monday. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The stock’s fifty day simple moving average is $188.97 and its two-hundred day simple moving average is $178.87. The stock has a market capitalization of $82.43 billion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 2.78 and a beta of 0.90. 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 issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 earnings per share. As a group, analysts expect that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors 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 0.95%. Zoetis’s dividend payout ratio (DPR) is presently 33.66%.

Analysts Set New Price Targets

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

Zoetis 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.