Addison Capital Co, a well-respected investment company, has recently announced that it has acquired a new stake in shares of Zoetis Inc. (NYSE:ZTS) during the first quarter of this year. After undertaking its latest Form 13F filing with the SEC, Addison Capital Co revealed that it had bought 15,716 shares in the popular animal health care company. The shares have an approximate total value of $2,616,000 and Zoetis now accounts for 2.0% of Addison Capital Co’s holdings.
Of note is that Zoetis is now Addison Capital Co’s 16th largest position. This acquisition falls during a particularly exciting period for Zoetis. Recently in May of 2017, the company released their earnings results which showed they had exceeded expectations by reporting $1.31 EPS for the quarter compared to a consensus estimate of $1.27 – beating predictions by a margin of $0.04.
Other impressive information gathered from this earning release includes their return on equity rate of over 50%. Furthermore, their net margin rate was also revealed to be just over 25%, impressive numbers indeed.
During that same quarter, they generated around $2 billion in revenue as opposed to the estimated prediction of $2.02 billion. While still an impressive figure indicating success and profitability (with revenue up from last year), it remains worthy to note such discrepancies when it comes to exceeding or falling below projected numbers.
Research analysts are keeping an eye on Zoetis and investors should too due to recent commendable ratings having been issued by a number of equities analysts on their stocks performance; including StockNews.com who assigned a “buy” rating on the stock after conducting research reports last month.
Piper Sandler also released projections regarding Zoetis narrowing their target price from $220 down to $210 earlier this month along with Bank Of America increasing its target price on the total stock value from $180 to $200.
Zoetis looks set to continue generating profitable revenue, which is helped in no small part by now having Addison Capital Co as a significant investor. Nine research analysts choosing to rate the stock with a buy rating, alongside a consensus price target of over $221 indicates that it’s looking like an intriguing prospect for investors who can afford the investment.
Zoetis Sees Institutional Investors Increasing Holdings and Positive Analyst Views
Zoetis, a leading animal health company, has recently seen a number of institutional investors modify their holdings of the company’s stock. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Zoetis by 430.8% in the first quarter, while Worth Asset Management LLC and IAG Wealth Partners LLC both bought new stakes in Zoetis. EWG Elevate Inc. and Elequin Securities LLC also acquired new positions in Zoetis in previous quarters. Institutional investors and hedge funds now own 98.18% of Zoetis’s stock.
Shares of Zoetis opened at $170.15 on Friday, with a market cap of $78.63 billion and a price-to-earnings ratio of 38.41, as well as a PEG ratio of 2.76 and a beta of 0.77. However, despite being affected by market fluctuations during the pandemic, Zoetis remains stable with current ratios of 3.27 and quick ratios of 1.94 respectively – indicating good short term financial health.
A number of analysts have expressed positive views on Zoetis’s stocks in recent reports; Bank Of America (Bofa) upped their target price from $180 to $200 per share declaring it “buy worthy”. Nine research analysts also rate the stocks as “buy”, according to Bloomberg data, lending confidence to those who are already shareholders or considering purchasing shares.
Zoetis announced that it will pay out a quarterly dividend on September 1st to shareholders on record as of July 21st for ownership of shares purchased prior to July 20th respectively.
Interestingly enough, Roxanne Lagano, EVP at Zoetis sold almost five thousand shares worth around $175 each earlier this year according to SEC filings.
Overall we saw strong stability within the last year with an overall low of near $124/share and a high of $187.82/share. With numerous positive reports and strong investor confidence, it is no surprise that Zoetis remains a valuable asset in the animal health industry.
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