Pines Wealth Management LLC Acquires New Stake in Zoetis Inc. (NYSE:ZTS)

Pines Wealth Management LLC bought a new position in shares of Zoetis Inc. (NYSE:ZTS) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,352 shares of the company’s stock, valued at approximately $384,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mizuho Securities USA LLC grew its stake in shares of Zoetis by 13,726.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock worth $950,524,000 after acquiring an additional 4,829,815 shares in the last quarter. International Assets Investment Management LLC grew its position in Zoetis by 41,235.7% in the third quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock valued at $183,652,000 after purchasing an additional 937,700 shares in the last quarter. Marshall Wace LLP increased its stake in Zoetis by 7,608.6% in the 2nd quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock valued at $144,874,000 after buying an additional 824,843 shares during the last quarter. Nordea Investment Management AB lifted its position in Zoetis by 38.3% during the 4th quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company’s stock worth $336,266,000 after buying an additional 572,511 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in shares of Zoetis during the 3rd quarter worth about $110,809,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Stifel Nicolaus dropped their price objective on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. UBS Group started coverage on shares of Zoetis in a research report on Monday, December 9th. They set a “neutral” rating and a $196.00 price target on the stock. Finally, Leerink Partners began coverage on shares of Zoetis in a research note on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective on the stock. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Zoetis has a consensus rating of “Buy” and a consensus target price of $211.89.

Zoetis Trading Up 1.7 %

Shares of NYSE:ZTS opened at $167.23 on Thursday. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.53. The business has a 50 day moving average of $171.31 and a 200-day moving average of $180.16. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The stock has a market cap of $75.45 billion, a PE ratio of 31.43, a P/E/G ratio of 2.91 and a beta of 0.89.

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, beating the consensus estimate of $1.46 by $0.12. The business had revenue of $2.40 billion during 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. As a group, equities research analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, January 21st will be paid a $0.50 dividend. This is a boost from Zoetis’s previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 1.20%. Zoetis’s payout ratio is 37.59%.

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.