Bright Financial Advisors Inc. Makes New Investment in Zoetis Inc. (NYSE:ZTS)

Bright Financial Advisors Inc. acquired a new position in Zoetis Inc. (NYSE:ZTS) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,216 shares of the company’s stock, valued at approximately $850,000. Zoetis makes up 0.5% of Bright Financial Advisors Inc.’s holdings, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZTS. Darwin Wealth Management LLC bought a new stake in shares of Zoetis in the 3rd quarter worth $31,000. First Personal Financial Services acquired a new stake in shares of Zoetis during the third quarter worth $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Zoetis during the third quarter worth $33,000. Dunhill Financial LLC raised its position in shares of Zoetis by 80.6% during the third quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock worth $33,000 after purchasing an additional 75 shares during the period. Finally, Fortitude Family Office LLC raised its position in shares of Zoetis by 1,387.5% during the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after purchasing an additional 222 shares during the period. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

ZTS opened at $174.07 on Friday. The company has a market cap of $78.54 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.72 and a beta of 0.90. The stock has a 50-day moving average of $169.34 and a 200-day moving average of $179.28. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $200.53. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company 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 company posted $1.36 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, January 21st will be issued a $0.50 dividend. This is a boost from Zoetis’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 1.15%. Zoetis’s dividend payout ratio is 37.59%.

Wall Street Analysts Forecast Growth

ZTS has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on Zoetis from $248.00 to $243.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. UBS Group began coverage on Zoetis in a research report on Monday, December 9th. They set a “neutral” rating and a $196.00 target price on the stock. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Leerink Partners began coverage on Zoetis in a report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price target on the stock. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $215.00.

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.