Erste Asset Management GmbH Purchases Shares of 99,623 Zoetis Inc. (NYSE:ZTS)

Erste Asset Management GmbH acquired a new position in shares of Zoetis Inc. (NYSE:ZTS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 99,623 shares of the company’s stock, valued at approximately $19,446,000.

Other large investors also recently made changes to their positions in the company. Cetera Investment Advisers increased its position in Zoetis by 275.2% during the first quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after buying an additional 70,476 shares during the last quarter. Simplify Asset Management Inc. bought a new stake in Zoetis in the 3rd quarter valued at $11,684,000. Bank Pictet & Cie Asia Ltd. lifted its holdings in Zoetis by 41.0% during the 2nd quarter. Bank Pictet & Cie Asia Ltd. now owns 37,500 shares of the company’s stock valued at $6,501,000 after purchasing an additional 10,900 shares during the last quarter. Swedbank AB boosted its position in Zoetis by 56.2% during the second quarter. Swedbank AB now owns 1,946,277 shares of the company’s stock worth $337,407,000 after purchasing an additional 700,398 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Zoetis by 6.1% in the second quarter. Raymond James & Associates now owns 794,419 shares of the company’s stock valued at $137,720,000 after purchasing an additional 45,597 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Performance

ZTS opened at $175.25 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The firm has a market cap of $79.07 billion, a P/E ratio of 32.94, a price-to-earnings-growth ratio of 2.69 and a beta of 0.89. The business’s fifty day moving average is $183.83 and its 200-day moving average is $180.97.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The firm had revenue of $2.40 billion for 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 earnings per share. Sell-side analysts expect that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.99%. The ex-dividend date is Thursday, October 31st. Zoetis’s payout ratio is presently 32.52%.

Analyst Ratings Changes

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

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.