Avitas Wealth Management LLC Trims Holdings in Zoetis Inc. (NYSE:ZTS)

Avitas Wealth Management LLC lessened its position in Zoetis Inc. (NYSE:ZTS) by 7.9% in the 3rd quarter, Holdings Channel reports. The fund owned 1,901 shares of the company’s stock after selling 164 shares during the period. Avitas Wealth Management LLC’s holdings in Zoetis were worth $371,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ZTS. Quarry LP lifted its stake in shares of Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after acquiring an additional 153 shares during the period. LRI Investments LLC acquired a new stake in shares of Zoetis in the 1st quarter worth $43,000. Fortitude Family Office LLC lifted its stake in shares of Zoetis by 1,387.5% in the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after acquiring an additional 222 shares during the period. Central Valley Advisors LLC acquired a new stake in shares of Zoetis in the 2nd quarter worth $49,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Zoetis in the 2nd quarter worth $56,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ZTS has been the subject of several recent analyst reports. 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 research note on Monday, August 12th. Stifel Nicolaus raised 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. Piper Sandler raised their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Argus upgraded shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Performance

Shares of ZTS opened at $182.78 on Thursday. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The stock has a market cap of $82.81 billion, a P/E ratio of 35.22, a PEG ratio of 2.79 and a beta of 0.89. The company has a 50-day moving average of $189.02 and a two-hundred day moving average of $178.28. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92.

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

Zoetis Dividend Announcement

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 given a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is currently 33.14%.

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.