Avestar Capital LLC Raises Stake in Zoetis Inc. (NYSE:ZTS)

Avestar Capital LLC raised its stake in Zoetis Inc. (NYSE:ZTS) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,337 shares of the company’s stock after buying an additional 392 shares during the period. Avestar Capital LLC’s holdings in Zoetis were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cherry Creek Investment Advisors Inc. increased its stake in Zoetis by 2.0% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock valued at $590,000 after purchasing an additional 58 shares in the last quarter. Hancock Whitney Corp grew its holdings in Zoetis by 0.3% in the third quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock valued at $3,628,000 after purchasing an additional 61 shares during the last quarter. Strategy Asset Managers LLC increased its position in shares of Zoetis by 3.5% in the third quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company’s stock valued at $356,000 after buying an additional 62 shares in the last quarter. Procyon Advisors LLC raised its stake in shares of Zoetis by 1.4% during the 4th quarter. Procyon Advisors LLC now owns 4,712 shares of the company’s stock worth $768,000 after buying an additional 63 shares during the last quarter. Finally, Aberdeen Wealth Management LLC boosted its position in shares of Zoetis by 1.9% in the 3rd quarter. Aberdeen Wealth Management LLC now owns 3,566 shares of the company’s stock worth $697,000 after buying an additional 68 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ZTS shares. Leerink Partners assumed coverage on shares of Zoetis in a report on Monday, December 2nd. They set an “outperform” rating and a $215.00 target price for the company. Morgan Stanley dropped their price objective on shares of Zoetis from $248.00 to $243.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Stifel Nicolaus reduced their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Piper Sandler cut their price target on Zoetis from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $214.00.

Zoetis Stock Performance

NYSE ZTS opened at $165.28 on Friday. The business’s 50-day moving average price is $169.08 and its 200 day moving average price is $179.08. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $200.53. The company has a market capitalization of $74.57 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 2.77 and a beta of 0.90.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. On average, research analysts predict that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.21%. Zoetis’s dividend payout ratio is presently 37.59%.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the transaction, the executive vice president now owns 16,107 shares in the company, valued at approximately $2,757,196.26. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

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.