Zoetis (NYSE:ZTS) Price Target Raised to $230.00

Zoetis (NYSE:ZTS) had its price objective hoisted by JPMorgan Chase & Co. from $225.00 to $230.00 in a research report released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other analysts have also recently commented on the company. Argus raised Zoetis to a strong-buy rating in a research report on Friday, August 9th. Stifel Nicolaus raised their price target on Zoetis from $200.00 to $210.00 and gave the company a buy rating in a report on Wednesday, September 18th. Piper Sandler lifted their price target on Zoetis from $195.00 to $210.00 and gave the stock an overweight rating in a research report on Wednesday, August 14th. Finally, BTIG Research lifted their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a buy rating in a report on Monday, August 12th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Buy and a consensus price target of $221.44.

Zoetis Stock Performance

Shares of ZTS stock opened at $190.08 on Friday. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The stock has a fifty day moving average of $188.07 and a 200 day moving average of $176.25. The firm has a market capitalization of $86.73 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 2.95 and a beta of 0.89. Zoetis has a 52 week low of $144.80 and a 52 week high of $201.92.

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

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.91%. Zoetis’s payout ratio is 33.14%.

Hedge Funds Weigh In On Zoetis

Hedge funds have recently made changes to their positions in the business. Sarasin & Partners LLP lifted its stake in Zoetis by 546.3% in the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after purchasing an additional 1,904,899 shares in the last quarter. Swedbank AB purchased a new position in shares of Zoetis in the first quarter valued at $210,815,000. Marshall Wace LLP increased its position in Zoetis by 7,608.6% in the second quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock worth $144,874,000 after purchasing an additional 824,843 shares during the last quarter. Vanguard Group Inc. raised its stake in Zoetis by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 40,334,966 shares of the company’s stock valued at $7,960,912,000 after purchasing an additional 536,477 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Zoetis by 178.2% during the first quarter. Canada Pension Plan Investment Board now owns 639,352 shares of the company’s stock valued at $108,185,000 after purchasing an additional 409,522 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

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.