Kovitz Investment Group Partners LLC Raises Stake in Zoetis Inc. (NYSE:ZTS)

Kovitz Investment Group Partners LLC increased its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 410.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,827 shares of the company's stock after purchasing an additional 143,804 shares during the period. Kovitz Investment Group Partners LLC's holdings in Zoetis were worth $33,698,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ZTS. Darwin Wealth Management LLC bought a new position in shares of Zoetis during the third quarter valued at approximately $31,000. First Personal Financial Services purchased a new stake in shares of Zoetis in the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new position in Zoetis during the third quarter valued at $33,000. Quarry LP boosted its holdings in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company's stock worth $36,000 after acquiring an additional 153 shares in the last quarter. Finally, Fortitude Family Office LLC grew its stake in shares of Zoetis by 1,387.5% in the third quarter. Fortitude Family Office LLC now owns 238 shares of the company's stock worth $46,000 after acquiring an additional 222 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

Zoetis Stock Performance

Shares of NYSE:ZTS traded up $1.69 during trading on Friday, hitting $176.46. The company's stock had a trading volume of 2,551,210 shares, compared to its average volume of 2,604,876. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. The firm has a market cap of $79.61 billion, a price-to-earnings ratio of 33.17, a P/E/G ratio of 2.86 and a beta of 0.89. The company has a 50-day moving average of $182.43 and a 200-day moving average of $180.93. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results 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 business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the firm earned $1.36 earnings per share. The company's quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st were issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.98%. The ex-dividend date was Thursday, October 31st. Zoetis's dividend payout ratio is presently 32.52%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Argus raised Zoetis to a "strong-buy" rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped 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 raised their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Leerink Partners initiated coverage on Zoetis in a research report on Monday, December 2nd. They issued an "outperform" rating and a $215.00 price objective on the stock. Finally, Piper Sandler increased their target price on Zoetis from $195.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. Eleven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Zoetis has an average rating of "Buy" and a consensus target price of $220.80.

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.