King Luther Capital Management Corp Has $354.80 Million Position in Zoetis Inc. (NYSE:ZTS)

King Luther Capital Management Corp boosted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,815,949 shares of the company’s stock after buying an additional 26,918 shares during the period. Zoetis makes up about 1.5% of King Luther Capital Management Corp’s portfolio, making the stock its 15th largest position. King Luther Capital Management Corp’s holdings in Zoetis were worth $354,800,000 at the end of the most recent quarter.

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

Zoetis Trading Up 0.1 %

Shares of Zoetis stock opened at $175.67 on Thursday. 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 fifty day simple moving average is $186.18 and its 200-day simple moving average is $180.47. The stock has a market capitalization of $79.26 billion, a PE ratio of 33.02, a P/E/G ratio of 2.69 and a beta of 0.90. Zoetis Inc. has a 1-year low of $144.80 and a 1-year 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 the consensus estimate of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. As a group, equities analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is presently 32.52%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ZTS shares. BTIG Research lifted 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. JPMorgan Chase & Co. raised their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Piper Sandler raised their price target on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus lifted their target price on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Argus upgraded shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Zoetis currently has a consensus rating of “Buy” and a consensus target price of $221.44.

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.