Kavar Capital Partners Group LLC Makes New Investment in Zoetis Inc. (NYSE:ZTS)

Kavar Capital Partners Group LLC purchased a new position in Zoetis Inc. (NYSE:ZTS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,496 shares of the company’s stock, valued at approximately $1,074,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZTS. Sarasin & Partners LLP raised its holdings in shares of Zoetis by 546.3% in the second quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after buying an additional 1,904,899 shares during the last quarter. Swedbank AB acquired a new stake in shares of Zoetis in the first quarter worth $210,815,000. International Assets Investment Management LLC increased its stake in shares of Zoetis by 41,235.7% in the third quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock worth $183,652,000 after acquiring an additional 937,700 shares during the period. Marshall Wace LLP increased its stake in shares of Zoetis by 7,608.6% in the second quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock worth $144,874,000 after acquiring an additional 824,843 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Zoetis by 1.0% in the first quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock worth $6,895,235,000 after acquiring an additional 414,605 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ZTS. JPMorgan Chase & Co. increased their price objective on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus increased their price objective 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. Piper Sandler increased their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, BTIG Research raised their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $221.44.

Zoetis Stock Down 0.8 %

Shares of NYSE ZTS opened at $180.01 on Friday. The company’s 50-day simple moving average is $189.10 and its 200-day simple moving average is $177.79. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The firm has a market cap of $82.14 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 2.94 and a beta of 0.89. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business earned $1.41 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts predict that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be given a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.96%. Zoetis’s dividend payout ratio (DPR) is 33.14%.

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.