Kavar Capital Partners Group LLC Invests $1.07 Million in Zoetis Inc. (NYSE:ZTS)

Kavar Capital Partners Group LLC purchased a new position in Zoetis Inc. (NYSE:ZTS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,496 shares of the company’s stock, valued at approximately $1,074,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prevail Innovative Wealth Advisors LLC lifted its stake in shares of Zoetis by 24.5% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock worth $3,211,000 after buying an additional 3,738 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in Zoetis by 58.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,931 shares of the company’s stock worth $7,095,000 after purchasing an additional 15,491 shares during the period. Duality Advisers LP raised its stake in Zoetis by 43.7% during the first quarter. Duality Advisers LP now owns 40,641 shares of the company’s stock worth $6,877,000 after purchasing an additional 12,359 shares during the period. M&G Plc purchased a new position in Zoetis during the first quarter worth about $19,819,000. Finally, Cetera Investment Advisers raised its stake in Zoetis by 275.2% during the first quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after purchasing an additional 70,476 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Price Performance

Shares of ZTS opened at $180.01 on Friday. 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 has a market cap of $82.14 billion, a PE ratio of 34.68, a P/E/G ratio of 2.94 and a beta of 0.89. The firm has a 50-day simple moving average of $189.10 and a two-hundred day simple moving average of $177.79. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last announced 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 during the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 earnings per share. As a group, analysts forecast that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is currently 33.14%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Piper Sandler lifted their target price 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. BTIG Research lifted their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. lifted their target price 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 lifted their target price 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. Finally, Argus upgraded shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $221.44.

Zoetis Company 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.