Novare Capital Management LLC Has $15.75 Million Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Novare Capital Management LLC increased its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 103.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 95,670 shares of the company's stock after purchasing an additional 48,667 shares during the period. Zoetis makes up approximately 1.4% of Novare Capital Management LLC's holdings, making the stock its 20th largest position. Novare Capital Management LLC's holdings in Zoetis were worth $15,752,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ZTS. Brighton Jones LLC lifted its position in shares of Zoetis by 180.4% during the 4th quarter. Brighton Jones LLC now owns 4,629 shares of the company's stock worth $754,000 after purchasing an additional 2,978 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Zoetis by 5.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 419,530 shares of the company's stock worth $68,354,000 after purchasing an additional 21,470 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Zoetis by 46.3% during the 4th quarter. Fisher Asset Management LLC now owns 2,849 shares of the company's stock worth $464,000 after purchasing an additional 901 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Zoetis by 61.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,053 shares of the company's stock worth $497,000 after purchasing an additional 1,157 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Zoetis during the 4th quarter worth about $196,651,000. Institutional investors and hedge funds own 92.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ZTS shares. Stifel Nicolaus cut Zoetis from a "buy" rating to a "hold" rating and cut their price target for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Wall Street Zen raised Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Piper Sandler upped their price target on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, UBS Group cut their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Zoetis presently has an average rating of "Buy" and a consensus price target of $212.13.

Zoetis Trading Up 0.1%

ZTS stock opened at $159.19 on Friday. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The firm has a market cap of $70.87 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.64 and a beta of 0.91. The business's 50 day moving average is $161.16 and its 200-day moving average is $162.12. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.08. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the company posted $1.38 EPS. The company's revenue was up 1.4% compared to the same quarter last year. Equities analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.26%. Zoetis's dividend payout ratio (DPR) is presently 35.91%.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the sale, the executive vice president directly owned 15,129 shares in the company, valued at $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

About Zoetis

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.

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