Oliver Luxxe Assets LLC Takes $206,000 Position in Zoetis Inc. (NYSE:ZTS)

Oliver Luxxe Assets LLC bought a new position in shares of Zoetis Inc. (NYSE:ZTS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,055 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors also recently bought and sold shares of ZTS. Webster Bank N. A. grew its holdings in shares of Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Quarry LP grew its stake in shares of Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after acquiring an additional 153 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Zoetis during the first quarter worth $43,000. Hazlett Burt & Watson Inc. raised its stake in shares of Zoetis by 60.7% in the first quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock valued at $46,000 after acquiring an additional 102 shares in the last quarter. Finally, Central Valley Advisors LLC purchased a new position in Zoetis in the second quarter valued at $49,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Performance

Shares of Zoetis stock opened at $192.65 on Tuesday. The firm’s fifty day simple moving average is $188.43 and its 200-day simple moving average is $176.42. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The stock has a market capitalization of $87.91 billion, a price-to-earnings ratio of 37.12, a PEG ratio of 2.95 and a beta of 0.89. 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 announced its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the business posted $1.41 EPS. The company’s revenue was up 8.3% on a year-over-year basis. As a group, equities analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.90%. Zoetis’s payout ratio is currently 33.14%.

Analyst Upgrades and Downgrades

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