Highland Capital Management LLC Cuts Stake in Zoetis Inc. (NYSE:ZTS)

Highland Capital Management LLC lowered its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,732 shares of the company's stock after selling 3,429 shares during the period. Highland Capital Management LLC's holdings in Zoetis were worth $6,311,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in shares of Zoetis in the 3rd quarter worth about $31,000. First Personal Financial Services purchased a new position in shares of Zoetis during the third quarter valued at approximately $33,000. Capital Performance Advisors LLP purchased a new position in shares of Zoetis during the third quarter valued at approximately $33,000. Dunhill Financial LLC boosted its position in shares of Zoetis by 80.6% in the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company's stock worth $33,000 after purchasing an additional 75 shares in the last quarter. Finally, Quarry LP increased its position in Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company's stock valued at $36,000 after buying an additional 153 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

Shares of ZTS traded up $2.46 during trading hours on Thursday, hitting $172.68. The stock had a trading volume of 1,082,501 shares, compared to its average volume of 2,649,197. The firm has a market capitalization of $77.91 billion, a PE ratio of 32.58, a PEG ratio of 2.57 and a beta of 0.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $200.53. The stock has a fifty day moving average price of $169.82 and a 200 day moving average price of $179.59.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.29 billion. During the same quarter in the prior year, the business earned $1.36 EPS. The business's quarterly revenue was up 11.6% on a year-over-year basis. Analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, January 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This is an increase from Zoetis's previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a yield of 1.16%. Zoetis's payout ratio is 37.59%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Zoetis from $225.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Stifel Nicolaus dropped their price target on shares of 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 shares of Zoetis to a "strong-buy" rating in a research note on Monday, December 2nd. Morgan Stanley dropped their target price on shares of Zoetis from $248.00 to $243.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Leerink Partners initiated coverage on shares of Zoetis in a report on Monday, December 2nd. They issued an "outperform" rating and a $215.00 price objective for the company. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $215.00.

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.