Correct Capital Wealth Management Acquires 7,365 Shares of Zoetis Inc. $ZTS

Correct Capital Wealth Management boosted its holdings in Zoetis Inc. (NYSE:ZTSFree Report) by 100.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,705 shares of the company’s stock after purchasing an additional 7,365 shares during the period. Correct Capital Wealth Management’s holdings in Zoetis were worth $2,152,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ZTS. Halbert Hargrove Global Advisors LLC boosted its holdings in Zoetis by 496.6% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 144 shares during the period. NewSquare Capital LLC increased its stake in Zoetis by 69.1% in the 2nd quarter. NewSquare Capital LLC now owns 208 shares of the company’s stock worth $32,000 after purchasing an additional 85 shares during the period. Financial Consulate Inc. purchased a new position in Zoetis in the 3rd quarter worth approximately $39,000. SJS Investment Consulting Inc. lifted its position in Zoetis by 1,606.3% in the third quarter. SJS Investment Consulting Inc. now owns 273 shares of the company’s stock valued at $40,000 after purchasing an additional 257 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Zoetis during the third quarter valued at approximately $42,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays began coverage on shares of Zoetis in a research note on Monday, December 8th. They issued an “equal weight” rating and a $136.00 target price on the stock. HSBC set a $140.00 price target on shares of Zoetis in a report on Wednesday, December 10th. UBS Group set a $136.00 price objective on shares of Zoetis in a research note on Thursday, January 29th. BTIG Research reiterated a “buy” rating and set a $160.00 target price on shares of Zoetis in a report on Wednesday, December 3rd. Finally, Weiss Ratings downgraded Zoetis from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, January 28th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Zoetis has an average rating of “Hold” and a consensus target price of $152.45.

View Our Latest Analysis on ZTS

Zoetis Trading Up 0.5%

Shares of ZTS opened at $127.40 on Friday. The firm’s 50-day moving average price is $123.96 and its 200-day moving average price is $136.31. The firm has a market capitalization of $56.14 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.20 and a beta of 0.96. The company has a current ratio of 3.64, a quick ratio of 2.28 and a debt-to-equity ratio of 1.31. Zoetis Inc. has a 1-year low of $115.25 and a 1-year high of $177.00.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Monday, April 20th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, April 20th. Zoetis’s payout ratio is presently 35.69%.

Key Zoetis News

Here are the key news stories impacting Zoetis this week:

Zoetis Profile

(Free Report)

Zoetis Inc (NYSE: ZTS) is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company’s offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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