NorthCrest Asset Manangement LLC Purchases 110 Shares of Zoetis Inc. (NYSE:ZTS)

NorthCrest Asset Manangement LLC boosted its position in Zoetis Inc. (NYSE:ZTS) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,250 shares of the company’s stock after acquiring an additional 110 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Zoetis were worth $4,543,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Forsta AP Fonden raised its stake in Zoetis by 5.4% during the third quarter. Forsta AP Fonden now owns 147,300 shares of the company’s stock worth $28,779,000 after acquiring an additional 7,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Zoetis by 28.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,653 shares of the company’s stock valued at $12,011,000 after purchasing an additional 13,699 shares in the last quarter. Middleton & Co. Inc. MA grew its holdings in shares of Zoetis by 2.0% during the 3rd quarter. Middleton & Co. Inc. MA now owns 12,307 shares of the company’s stock valued at $2,405,000 after purchasing an additional 245 shares during the last quarter. BKM Wealth Management LLC increased its position in Zoetis by 57.3% during the 3rd quarter. BKM Wealth Management LLC now owns 7,809 shares of the company’s stock worth $1,526,000 after purchasing an additional 2,845 shares in the last quarter. Finally, Lyell Wealth Management LP lifted its stake in Zoetis by 1.4% in the 3rd quarter. Lyell Wealth Management LP now owns 67,052 shares of the company’s stock valued at $13,101,000 after purchasing an additional 912 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Zoetis Price Performance

Zoetis stock opened at $180.01 on Friday. The stock’s 50 day moving average is $189.10 and its 200 day moving average is $177.79. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The firm has a market cap of $82.14 billion, a P/E ratio of 34.68, a P/E/G ratio of 2.94 and a beta of 0.89. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09.

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

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.96%. Zoetis’s payout ratio is currently 33.14%.

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.