Summa Corp. Has $232,000 Stake in Zoetis Inc. (NYSE:ZTS)

Summa Corp. lifted its holdings in Zoetis Inc. (NYSE:ZTS) by 37.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,424 shares of the company’s stock after acquiring an additional 387 shares during the quarter. Summa Corp.’s holdings in Zoetis were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mizuho Securities USA LLC raised its holdings in shares of Zoetis by 13,726.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock worth $950,524,000 after purchasing an additional 4,829,815 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Zoetis by 41,235.7% in the 3rd quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock worth $183,652,000 after purchasing an additional 937,700 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Zoetis by 296.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 889,444 shares of the company’s stock worth $144,917,000 after purchasing an additional 665,331 shares during the period. Nordea Investment Management AB raised its holdings in shares of Zoetis by 38.3% in the 4th quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company’s stock worth $336,266,000 after purchasing an additional 572,511 shares during the period. Finally, Holocene Advisors LP bought a new stake in Zoetis during the 3rd quarter valued at $110,809,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZTS. Stifel Nicolaus lowered their target price on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. upped their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. UBS Group assumed coverage on shares of Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price target on the stock. Morgan Stanley decreased their price target on shares of Zoetis from $248.00 to $243.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Leerink Partners initiated coverage on shares of Zoetis in a report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $215.00.

Zoetis Stock Performance

NYSE ZTS opened at $170.33 on Thursday. The company has a 50-day simple moving average of $169.93 and a two-hundred day simple moving average of $179.65. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.53. The firm has a market cap of $76.85 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 2.57 and a beta of 0.89.

Zoetis (NYSE:ZTS) last issued 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. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 earnings per share. On average, equities analysts forecast that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, January 21st will be paid a $0.50 dividend. This is an increase from Zoetis’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Tuesday, January 21st. Zoetis’s dividend payout ratio is presently 37.59%.

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.