Hayek Kallen Investment Management Decreases Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Hayek Kallen Investment Management lessened its holdings in Zoetis Inc. (NYSE:ZTS) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,391 shares of the company’s stock after selling 214 shares during the quarter. Hayek Kallen Investment Management’s holdings in Zoetis were worth $1,639,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ZTS. Webster Bank N. A. raised its position in shares of Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. Quarry LP increased its stake in Zoetis by 273.2% in 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 last quarter. LRI Investments LLC acquired a new stake in Zoetis during the first quarter worth approximately $43,000. Hazlett Burt & Watson Inc. lifted its position in shares of Zoetis by 60.7% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock worth $46,000 after buying an additional 102 shares during the last quarter. Finally, Central Valley Advisors LLC acquired a new position in shares of Zoetis in the 2nd quarter valued at $49,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

Shares of NYSE:ZTS traded up $1.08 during trading on Tuesday, reaching $193.73. The company had a trading volume of 367,601 shares, compared to its average volume of 2,534,976. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The stock’s fifty day moving average price is $188.43 and its 200 day moving average price is $176.42. The firm has a market capitalization of $88.40 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 2.95 and a beta of 0.89.

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

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors 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 yield of 0.89%. Zoetis’s dividend payout ratio is currently 33.14%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. BTIG Research boosted their target price on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Argus raised Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Piper Sandler increased their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $221.44.

Zoetis Profile

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.