Forte Capital LLC ADV Grows Position in Zoetis Inc. (NYSE:ZTS)

Forte Capital LLC ADV grew its position in shares of Zoetis Inc. (NYSE:ZTS) by 37.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,063 shares of the company’s stock after acquiring an additional 565 shares during the quarter. Forte Capital LLC ADV’s holdings in Zoetis were worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Prevail Innovative Wealth Advisors LLC grew its position in Zoetis by 24.5% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock worth $3,211,000 after purchasing an additional 3,738 shares in the last quarter. M&G Plc purchased a new stake in shares of Zoetis during the first quarter valued at approximately $19,819,000. Cetera Investment Advisers lifted its holdings 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 acquiring an additional 70,476 shares during the period. Sei Investments Co. boosted its position in Zoetis by 19.6% in the first quarter. Sei Investments Co. now owns 370,069 shares of the company’s stock worth $62,622,000 after purchasing an additional 60,698 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in Zoetis by 49.6% in the 1st quarter. Acadian Asset Management LLC now owns 25,051 shares of the company’s stock valued at $4,235,000 after purchasing an additional 8,302 shares during the period. Institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ZTS shares. Stifel Nicolaus boosted their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Piper Sandler boosted their target price 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. BTIG Research raised their price target 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. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price objective on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $221.44.

Zoetis Price Performance

Shares of NYSE ZTS opened at $174.34 on Friday. The stock has a fifty day moving average of $188.46 and a 200-day moving average of $179.17. The stock has a market cap of $78.98 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 2.68 and a beta of 0.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.12. Zoetis had a return on equity of 52.59% and a net margin of 26.55%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Zoetis Inc. will post 5.91 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is 32.33%.

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.