ING Groep NV Buys 714 Shares of Zoetis Inc. (NYSE:ZTS)

ING Groep NV boosted its position in Zoetis Inc. (NYSE:ZTS) by 0.7% during the third quarter, Holdings Channel reports. The institutional investor owned 107,691 shares of the company’s stock after purchasing an additional 714 shares during the quarter. ING Groep NV’s holdings in Zoetis were worth $21,041,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Prevail Innovative Wealth Advisors LLC grew its holdings in Zoetis by 24.5% during the first 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 during the period. M&G Plc acquired a new position in shares of Zoetis in the first quarter valued at $19,819,000. Cetera Investment Advisers lifted its stake in shares of Zoetis by 275.2% during the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after buying an additional 70,476 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Zoetis by 49.6% during the 1st quarter. Acadian Asset Management LLC now owns 25,051 shares of the company’s stock worth $4,235,000 after buying an additional 8,302 shares during the period. Finally, Soltis Investment Advisors LLC acquired a new position in Zoetis in the 1st quarter valued at about $688,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 1.4 %

Shares of NYSE:ZTS opened at $174.63 on Friday. The business has a fifty day simple moving average of $187.61 and a 200 day simple moving average of $180.02. 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 $78.79 billion, a P/E ratio of 32.83, a P/E/G ratio of 2.72 and a beta of 0.90. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26.

Zoetis (NYSE:ZTS) last released its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating 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 business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts predict 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 given 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 dividend yield of 0.99%. Zoetis’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ZTS. 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. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research raised their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus boosted their price target on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lifted their price objective 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Zoetis has a consensus rating of “Buy” and a consensus 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.