Lake Street Advisors Group LLC Increases Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Lake Street Advisors Group LLC increased its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 24.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,845 shares of the company’s stock after buying an additional 2,125 shares during the period. Lake Street Advisors Group LLC’s holdings in Zoetis were worth $2,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ZTS. Future Financial Wealth Managment LLC acquired a new position in shares of Zoetis during the 1st quarter worth approximately $51,000. Procyon Advisors LLC increased its stake in shares of Zoetis by 20.2% in the 1st quarter. Procyon Advisors LLC now owns 5,423 shares of the company’s stock worth $918,000 after acquiring an additional 911 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Zoetis by 7.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 244,348 shares of the company’s stock worth $41,346,000 after acquiring an additional 17,488 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of Zoetis by 44.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,493 shares of the company’s stock valued at $760,000 after acquiring an additional 1,383 shares during the last quarter. Finally, Norway Savings Bank grew its holdings in shares of Zoetis by 5.6% in the first quarter. Norway Savings Bank now owns 4,832 shares of the company’s stock valued at $818,000 after purchasing an additional 255 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 0.2 %

Shares of Zoetis stock traded down $0.29 during trading hours on Friday, reaching $181.21. 350,589 shares of the company were exchanged, compared to its average volume of 2,507,020. The firm has a market cap of $82.69 billion, a PE ratio of 34.97, a PEG ratio of 2.94 and a beta of 0.89. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The stock’s fifty day moving average is $189.23 and its 200 day moving average is $177.58.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. Zoetis’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 EPS. As a group, equities research analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Announces Dividend

The company 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. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.95%. Zoetis’s dividend payout ratio is currently 33.14%.

Analyst Upgrades and Downgrades

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