Assetmark Inc. Raises Stake in Zoetis Inc. (NYSE:ZTS)

Assetmark Inc. increased its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 17.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,303 shares of the company’s stock after acquiring an additional 18,265 shares during the period. Assetmark Inc.’s holdings in Zoetis were worth $23,505,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZTS. Prevail Innovative Wealth Advisors LLC boosted its position in shares of Zoetis by 24.5% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock worth $3,211,000 after purchasing an additional 3,738 shares in the last quarter. M&G Plc bought a new stake in Zoetis in the first quarter worth $19,819,000. Cetera Investment Advisers boosted its holdings in Zoetis by 275.2% in the first quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after acquiring an additional 70,476 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Zoetis by 19.6% during the first quarter. Sei Investments Co. now owns 370,069 shares of the company’s stock valued at $62,622,000 after acquiring an additional 60,698 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Zoetis by 49.6% during the first quarter. Acadian Asset Management LLC now owns 25,051 shares of the company’s stock valued at $4,235,000 after acquiring an additional 8,302 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Zoetis Stock Performance

ZTS stock opened at $176.82 on Friday. The company has a market cap of $79.78 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.09. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The stock’s fifty day moving average price is $188.15 and its 200-day moving average price is $179.35.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the firm posted $1.36 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

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. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. Zoetis’s dividend payout ratio (DPR) is 32.52%.

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.