Princeton Capital Management LLC Raises Stock Position in Zoetis Inc. (NYSE:ZTS)

Princeton Capital Management LLC boosted its position in Zoetis Inc. (NYSE:ZTS) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,488 shares of the company’s stock after purchasing an additional 133 shares during the quarter. Zoetis comprises 0.7% of Princeton Capital Management LLC’s investment portfolio, making the stock its 28th biggest position. Princeton Capital Management LLC’s holdings in Zoetis were worth $2,244,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC grew its stake in Zoetis by 13,726.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock worth $950,524,000 after buying an additional 4,829,815 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Zoetis by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock valued at $812,695,000 after purchasing an additional 178,303 shares during the period. Capital Research Global Investors boosted its position in Zoetis by 2.3% during the 1st quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock valued at $685,416,000 after buying an additional 90,330 shares during the period. Clearbridge Investments LLC grew its stake in shares of Zoetis by 5.8% in the second quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock worth $527,774,000 after purchasing an additional 166,517 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Zoetis by 17.3% during the third quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company’s stock valued at $464,497,000 after buying an additional 351,372 shares during the period. Institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Zoetis Trading Up 0.7 %

NYSE ZTS opened at $176.42 on Tuesday. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average price is $186.78 and its 200-day moving average price is $180.45. The stock has a market cap of $79.60 billion, a P/E ratio of 33.16, a P/E/G ratio of 2.69 and a beta of 0.90.

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

Zoetis Dividend Announcement

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 issued a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. Zoetis’s payout ratio is currently 32.52%.

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.