First Commonwealth Financial Corp PA Acquires 76 Shares of Zoetis Inc. (NYSE:ZTS)

First Commonwealth Financial Corp PA grew its holdings in Zoetis Inc. (NYSE:ZTS) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,943 shares of the company’s stock after acquiring an additional 76 shares during the period. First Commonwealth Financial Corp PA’s holdings in Zoetis were worth $966,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Darwin Wealth Management LLC purchased a new stake in Zoetis in the third quarter worth about $31,000. First Personal Financial Services purchased a new stake in Zoetis in the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new stake in Zoetis in the 3rd quarter worth approximately $33,000. Quarry LP lifted its holdings in Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its position in shares of Zoetis by 1,387.5% in the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after purchasing an additional 222 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

ZTS has been the topic of several recent analyst reports. 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 report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus lifted their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. BTIG Research upped their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $221.44.

Zoetis Price Performance

Shares of NYSE ZTS traded up $2.27 during mid-day trading on Wednesday, hitting $177.97. 106,100 shares of the company’s stock traded hands, compared to its average volume of 2,540,347. The company has a market capitalization of $80.29 billion, a P/E ratio of 33.03, a PEG ratio of 2.74 and a beta of 0.90. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. The company’s 50-day moving average is $184.91 and its two-hundred day moving average is $180.84.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.12. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $1.36 EPS. On average, equities analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be issued a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.97%. Zoetis’s dividend payout ratio (DPR) is presently 32.52%.

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.