Aigen Investment Management LP Takes Position in Zoetis Inc. (NYSE:ZTS)

Aigen Investment Management LP bought a new position in shares of Zoetis Inc. (NYSE:ZTS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,906 shares of the company’s stock, valued at approximately $1,935,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC grew its position in shares of Zoetis by 1.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 38,518 shares of the company’s stock worth $7,526,000 after buying an additional 580 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Zoetis by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,112,662 shares of the company’s stock worth $217,392,000 after purchasing an additional 7,412 shares during the period. GSA Capital Partners LLP bought a new stake in Zoetis in the third quarter valued at $2,218,000. Waverton Investment Management Ltd raised its holdings in shares of Zoetis by 2.2% during the third quarter. Waverton Investment Management Ltd now owns 312,899 shares of the company’s stock valued at $61,133,000 after purchasing an additional 6,780 shares during the period. Finally, Apollon Wealth Management LLC boosted its position in shares of Zoetis by 7.7% during the 3rd quarter. Apollon Wealth Management LLC now owns 16,961 shares of the company’s stock worth $3,314,000 after purchasing an additional 1,211 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Zoetis Price Performance

ZTS stock traded down $0.96 during mid-day trading on Tuesday, reaching $175.19. 213,340 shares of the company traded hands, compared to its average volume of 2,531,095. The company has a fifty day moving average price of $188.00 and a 200-day moving average price of $179.93. The company has a market capitalization of $79.04 billion, a P/E ratio of 33.11, a P/E/G ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.09.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 earnings per share. As a group, analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.99%. Zoetis’s dividend payout ratio (DPR) is presently 32.33%.

Analyst Ratings Changes

A number of brokerages recently commented on ZTS. Argus raised Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted 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. BTIG Research lifted their price target 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. Piper Sandler upped their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, 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 report on Wednesday, September 18th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target 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.