Forte Capital LLC ADV Acquires 565 Shares of Zoetis Inc. (NYSE:ZTS)

Forte Capital LLC ADV increased its stake in Zoetis Inc. (NYSE:ZTS) by 37.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,063 shares of the company’s stock after purchasing an additional 565 shares during the period. Forte Capital LLC ADV’s holdings in Zoetis were worth $403,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP increased its holdings in shares of Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares during the last quarter. LRI Investments LLC bought a new position in Zoetis in the first quarter valued at $43,000. Fortitude Family Office LLC raised its position in Zoetis by 1,387.5% during the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after purchasing an additional 222 shares in the last quarter. Central Valley Advisors LLC bought a new stake in Zoetis during the second quarter worth about $49,000. Finally, EdgeRock Capital LLC bought a new position in shares of Zoetis during the 2nd quarter valued at about $56,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Trading Up 2.3 %

ZTS opened at $174.34 on Friday. The firm has a market capitalization of $78.98 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.68 and a beta of 0.90. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The business has a 50 day simple moving average of $188.46 and a two-hundred day simple moving average of $179.17. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 52.59%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the business posted $1.36 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts predict that Zoetis Inc. will post 5.91 EPS for the current year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid 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 payout ratio is currently 32.33%.

Analyst Ratings Changes

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

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.