Elwood & Goetz Wealth Advisory Group LLC Buys Shares of 1,267 Zoetis Inc. (NYSE:ZTS)

Elwood & Goetz Wealth Advisory Group LLC purchased a new position in shares of Zoetis Inc. (NYSE:ZTS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,267 shares of the company’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Asset Dedication LLC increased its holdings in shares of Zoetis by 4.8% during the second quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock worth $204,000 after buying an additional 54 shares in the last quarter. Forza Wealth Management LLC grew its position in Zoetis by 1.8% during the 2nd quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock worth $574,000 after acquiring an additional 58 shares during the last quarter. Cherry Creek Investment Advisors Inc. increased its holdings in Zoetis by 2.0% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock worth $590,000 after purchasing an additional 58 shares in the last quarter. L. Roy Papp & Associates LLP raised its position in Zoetis by 2.8% in the second quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock valued at $385,000 after purchasing an additional 60 shares during the last quarter. Finally, Grove Bank & Trust boosted its stake in shares of Zoetis by 0.5% during the third quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock valued at $2,298,000 after purchasing an additional 61 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Price Performance

ZTS stock opened at $180.01 on Friday. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The company’s fifty day simple moving average is $189.18 and its 200 day simple moving average is $177.61. 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 $82.14 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.94 and a beta of 0.89.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the business earned $1.41 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, analysts expect that Zoetis Inc. will post 5.83 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 given a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is 33.14%.

Analyst Ratings Changes

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