Moss Adams Wealth Advisors LLC Purchases New Position in Zoetis Inc. (NYSE:ZTS)

Moss Adams Wealth Advisors LLC acquired a new stake in Zoetis Inc. (NYSE:ZTS) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,206 shares of the company’s stock, valued at approximately $236,000.

Other institutional investors have also added to or reduced their stakes in the company. Webster Bank N. A. lifted its holdings in shares of Zoetis by 89.1% during the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Quarry LP raised its position in Zoetis by 273.2% in the 2nd 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 valued at about $43,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Zoetis by 60.7% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock valued at $46,000 after acquiring an additional 102 shares during the last quarter. Finally, Central Valley Advisors LLC bought a new stake in shares of Zoetis in the second quarter worth approximately $49,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Zoetis Price Performance

NYSE ZTS opened at $193.28 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The stock has a market cap of $87.57 billion, a price-to-earnings ratio of 37.82, a PEG ratio of 3.00 and a beta of 0.89. The company’s 50 day moving average is $188.98 and its two-hundred day moving average is $177.07.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 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 the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $1.41 EPS. As a group, research analysts anticipate that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is 33.86%.

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.