Simplify Asset Management Inc. Takes Position in Zoetis Inc. (NYSE:ZTS)

Simplify Asset Management Inc. purchased a new stake in Zoetis Inc. (NYSE:ZTS) in the 3rd quarter, HoldingsChannel reports. The fund purchased 59,801 shares of the company’s stock, valued at approximately $11,684,000. Zoetis makes up 0.5% of Simplify Asset Management Inc.’s holdings, making the stock its 19th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the company. First Personal Financial Services acquired a new stake in shares of Zoetis in the 3rd quarter valued at about $33,000. Capital Performance Advisors LLP purchased a new position in shares of Zoetis in the 3rd quarter worth approximately $33,000. Quarry LP grew its stake in Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares during the period. Fortitude Family Office LLC increased its holdings in Zoetis by 1,387.5% during the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after buying an additional 222 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Zoetis in the 1st quarter worth approximately $43,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of NYSE:ZTS traded down $2.69 on Friday, reaching $171.94. The company’s stock had a trading volume of 524,988 shares, compared to its average volume of 2,534,981. 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 quick ratio of 2.27 and a current ratio of 3.69. The company has a 50-day simple moving average of $187.37 and a 200 day simple moving average of $179.98. The company has a market cap of $77.57 billion, a P/E ratio of 32.34, a PEG ratio of 2.72 and a beta of 0.90.

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

Zoetis Announces Dividend

The company also recently declared 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. This represents a $1.73 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is 32.52%.

Analyst Upgrades and Downgrades

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