First Commonwealth Financial Corp PA Raises Stake in Zoetis Inc. (NYSE:ZTS)

First Commonwealth Financial Corp PA increased its stake in Zoetis Inc. (NYSE:ZTS) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,943 shares of the company’s stock after buying an additional 76 shares during the period. First Commonwealth Financial Corp PA’s holdings in Zoetis were worth $966,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC grew its stake in Zoetis by 16.3% in the third quarter. CreativeOne Wealth LLC now owns 14,408 shares of the company’s stock worth $2,815,000 after purchasing an additional 2,023 shares in the last quarter. BNP Paribas grew its position in shares of Zoetis by 22.4% during the 3rd quarter. BNP Paribas now owns 7,707 shares of the company’s stock worth $1,497,000 after buying an additional 1,410 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Zoetis by 383.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 67,517 shares of the company’s stock valued at $13,191,000 after buying an additional 53,540 shares during the period. Freedom Investment Management Inc. raised its holdings in shares of Zoetis by 40.1% in the third quarter. Freedom Investment Management Inc. now owns 5,699 shares of the company’s stock valued at $1,113,000 after acquiring an additional 1,632 shares in the last quarter. Finally, Thematics Asset Management lifted its stake in Zoetis by 4.6% in the third quarter. Thematics Asset Management now owns 35,354 shares of the company’s stock worth $6,907,000 after acquiring an additional 1,557 shares during the period. Institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Zoetis Stock Up 1.3 %

Shares of ZTS traded up $2.27 during mid-day trading on Wednesday, hitting $177.97. 106,100 shares of the company traded hands, compared to its average volume of 2,540,347. The business has a 50 day moving average of $184.91 and a 200 day moving average of $180.84. The company has a market capitalization of $80.29 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 2.74 and a beta of 0.90. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping 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 net margin of 26.55% and a return on equity of 51.98%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.36 earnings per share. Equities research analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio is presently 32.52%.

About Zoetis

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.