Summit Place Financial Advisors LLC Has $3.41 Million Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Summit Place Financial Advisors LLC lowered its stake in Zoetis Inc. (NYSE:ZTS) by 5.6% during the third quarter, HoldingsChannel.com reports. The firm owned 17,456 shares of the company’s stock after selling 1,029 shares during the period. Zoetis makes up about 1.9% of Summit Place Financial Advisors LLC’s holdings, making the stock its 16th biggest holding. Summit Place Financial Advisors LLC’s holdings in Zoetis were worth $3,411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ZTS. Quarry LP boosted its holdings in Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares during the last quarter. LRI Investments LLC bought a new position in Zoetis during the 1st quarter worth approximately $43,000. Central Valley Advisors LLC acquired a new position in Zoetis during the second quarter valued at approximately $49,000. EdgeRock Capital LLC bought a new stake in Zoetis in the second quarter valued at approximately $56,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Zoetis in the third quarter worth $59,000. 92.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ZTS has been the subject of several research analyst reports. Stifel Nicolaus boosted their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. 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. Piper Sandler boosted their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, BTIG Research raised their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis Price Performance

NYSE ZTS opened at $180.01 on Monday. The firm’s 50 day moving average is $189.10 and its 200-day moving average is $177.89. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $81.55 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 EPS. Equities research analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a $0.432 dividend. 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 0.96%. Zoetis’s dividend payout ratio is 33.86%.

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.