Freedom Investment Management Inc. Purchases 1,632 Shares of Zoetis Inc. (NYSE:ZTS)

Freedom Investment Management Inc. raised its position in Zoetis Inc. (NYSE:ZTS) by 40.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,699 shares of the company’s stock after purchasing an additional 1,632 shares during the quarter. Freedom Investment Management Inc.’s holdings in Zoetis were worth $1,113,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in shares of Zoetis during the 3rd quarter worth approximately $31,000. First Personal Financial Services bought a new stake in shares of Zoetis during the third quarter worth $33,000. Capital Performance Advisors LLP bought a new stake in shares of Zoetis during the third quarter worth $33,000. Quarry LP boosted its stake in shares of 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 during the period. Finally, LRI Investments LLC bought a new position in shares of Zoetis in the first quarter worth about $43,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

ZTS opened at $176.74 on Thursday. The firm has a market capitalization of $79.74 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 2.70 and a beta of 0.90. 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 business’s 50-day moving average is $184.51 and its two-hundred day moving average is $180.81. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The firm had revenue of $2.40 billion for 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 quarter in the previous year, the firm earned $1.36 EPS. Research analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ZTS shares. JPMorgan Chase & Co. lifted their price objective on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Argus raised shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Piper Sandler increased their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus increased their price target on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, BTIG Research lifted their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock 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.