Umpqua Bank Invests $245,000 in Zoetis Inc. (NYSE:ZTS)

Umpqua Bank bought a new stake in Zoetis Inc. (NYSE:ZTS) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 1,256 shares of the company’s stock, valued at approximately $245,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP boosted its position in Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after purchasing an additional 153 shares in the last quarter. LRI Investments LLC acquired a new position in Zoetis during the first quarter worth $43,000. Fortitude Family Office LLC grew its holdings in Zoetis by 1,387.5% in the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after buying an additional 222 shares in the last quarter. Central Valley Advisors LLC acquired a new stake in shares of Zoetis in the 2nd quarter worth $49,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Zoetis during the 2nd quarter worth $56,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

Shares of ZTS stock traded up $1.16 during midday trading on Wednesday, hitting $176.43. The company had a trading volume of 165,840 shares, compared to its average volume of 2,504,797. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The stock has a market cap of $79.93 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.68 and a beta of 0.90. The company’s 50 day simple moving average is $188.71 and its 200 day simple moving average is $179.23. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. The firm had revenue of $2.40 billion during 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 52.59%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 earnings per share. Research analysts anticipate that Zoetis Inc. will post 5.91 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company 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 $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.98%. Zoetis’s payout ratio is currently 32.33%.

Analysts Set New Price Targets

ZTS has been the subject of several recent analyst reports. BTIG Research raised their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Piper Sandler upped their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus increased their price target on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Argus raised shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.