Brokerages Set Zoetis Inc. (NYSE:ZTS) Target Price at $221.44

Zoetis Inc. (NYSE:ZTS) has earned an average rating of “Buy” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $221.44.

A number of brokerages have recently commented on ZTS. Piper Sandler increased their target price 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. BTIG Research increased their price objective on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Stifel Nicolaus lifted their price objective on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th.

Zoetis Trading Up 1.8 %

Shares of ZTS stock opened at $181.95 on Thursday. The stock has a 50 day simple moving average of $188.97 and a 200-day simple moving average of $178.69. Zoetis has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a market cap of $82.43 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 2.78 and a beta of 0.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. The business 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% compared to the same quarter last year. During the same period last year, the firm posted $1.41 earnings per share. On average, equities research analysts expect that Zoetis will post 5.83 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is presently 33.66%.

Institutional Investors Weigh In On Zoetis

A number of institutional investors have recently made changes to their positions in ZTS. Hennion & Walsh Asset Management Inc. grew its position in Zoetis by 73.9% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 2,315 shares of the company’s stock valued at $392,000 after acquiring an additional 984 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Zoetis by 12.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 7,749 shares of the company’s stock worth $1,311,000 after buying an additional 872 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in Zoetis by 5.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 15,705 shares of the company’s stock valued at $2,657,000 after buying an additional 794 shares during the period. Ashton Thomas Private Wealth LLC grew its stake in shares of Zoetis by 8.6% in the first quarter. Ashton Thomas Private Wealth LLC now owns 26,945 shares of the company’s stock worth $4,559,000 after acquiring an additional 2,144 shares in the last quarter. Finally, SpiderRock Advisors LLC acquired a new stake in shares of Zoetis in the first quarter valued at $368,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

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.