Steel Grove Capital Advisors LLC Grows Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Steel Grove Capital Advisors LLC lifted its position in Zoetis Inc. (NYSE:ZTS) by 7.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,264 shares of the company’s stock after buying an additional 84 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Zoetis were worth $214,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ZTS. Procyon Advisors LLC grew its holdings in Zoetis by 3.3% in the fourth quarter. Procyon Advisors LLC now owns 4,512 shares of the company’s stock worth $891,000 after purchasing an additional 145 shares during the last quarter. Trueblood Wealth Management LLC purchased a new position in Zoetis in the fourth quarter worth $575,000. Austin Private Wealth LLC purchased a new position in Zoetis in the fourth quarter worth $212,000. Navalign LLC grew its holdings in Zoetis by 4.4% in the fourth quarter. Navalign LLC now owns 4,888 shares of the company’s stock worth $965,000 after purchasing an additional 208 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC purchased a new position in Zoetis in the fourth quarter worth $301,000. Institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ZTS shares. Barclays cut their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. The Goldman Sachs Group dropped their price objective on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a report on Monday, May 6th. HSBC dropped their price objective on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. BTIG Research began coverage on shares of Zoetis in a report on Thursday. They set a “buy” rating and a $220.00 price objective on the stock. Finally, Piper Sandler reissued an “overweight” rating and set a $195.00 price objective (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $212.67.

Zoetis Stock Performance

NYSE ZTS traded down $0.92 on Friday, reaching $179.84. 2,437,326 shares of the company’s stock traded hands, compared to its average volume of 1,885,429. The stock has a 50 day moving average price of $174.51 and a 200-day moving average price of $176.16. The firm has a market cap of $82.06 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 2.79 and a beta of 0.86. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the company earned $1.31 EPS. Zoetis’s revenue was up 9.5% compared to the same quarter last year. Equities research analysts predict that Zoetis Inc. will post 5.76 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be paid a dividend of $0.432 per share. The ex-dividend date is Thursday, July 18th. This represents a $1.73 annualized dividend and a yield of 0.96%. Zoetis’s dividend payout ratio is presently 33.33%.

Zoetis Company 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.