QRG Capital Management Inc. Purchases 2,463 Shares of Zoetis Inc. (NYSE:ZTS)

QRG Capital Management Inc. raised its position in shares of Zoetis Inc. (NYSE:ZTS) by 3.3% in the third quarter, Holdings Channel reports. The fund owned 76,851 shares of the company’s stock after buying an additional 2,463 shares during the quarter. QRG Capital Management Inc.’s holdings in Zoetis were worth $15,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Zoetis Stock Performance

Shares of ZTS stock opened at $175.18 on Tuesday. The company has a market capitalization of $79.37 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 2.82 and a beta of 0.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The company has a 50-day simple moving average of $188.84 and a 200 day simple moving average of $179.03. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92.

Zoetis (NYSE:ZTS) last posted 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. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 EPS. On average, sell-side analysts predict that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 33.86%.

Analyst Ratings Changes

ZTS has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus lifted 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. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. 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 research report on Friday, October 11th. Finally, BTIG Research lifted their price objective 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. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $221.44.

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.