Raymond James Financial Inc. Makes New $196.65 Million Investment in Zoetis Inc. (NYSE:ZTS)

Raymond James Financial Inc. purchased a new stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,206,966 shares of the company's stock, valued at approximately $196,651,000. Raymond James Financial Inc. owned about 0.27% of Zoetis at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ZTS. Howard Capital Management Group LLC raised its holdings in shares of Zoetis by 0.8% during the third quarter. Howard Capital Management Group LLC now owns 104,866 shares of the company's stock valued at $20,489,000 after purchasing an additional 883 shares during the period. Avidian Wealth Enterprises LLC raised its holdings in shares of Zoetis by 5.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 2,322 shares of the company's stock worth $454,000 after acquiring an additional 111 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Zoetis by 7.0% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 9,674 shares of the company's stock worth $1,890,000 after acquiring an additional 635 shares during the last quarter. M&G PLC raised its holdings in shares of Zoetis by 1.6% in the 3rd quarter. M&G PLC now owns 77,230 shares of the company's stock worth $15,060,000 after acquiring an additional 1,253 shares during the last quarter. Finally, Forte Capital LLC ADV raised its holdings in shares of Zoetis by 37.7% in the 3rd quarter. Forte Capital LLC ADV now owns 2,063 shares of the company's stock worth $403,000 after acquiring an additional 565 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

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Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 326 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total transaction of $55,804.68. Following the transaction, the executive vice president now owns 16,107 shares in the company, valued at $2,757,196.26. The trade was a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Zoetis Trading Up 1.8 %

Zoetis stock traded up $3.09 during mid-day trading on Friday, hitting $170.34. The company's stock had a trading volume of 3,296,788 shares, compared to its average volume of 3,274,650. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. The stock has a market cap of $76.28 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The business has a 50 day moving average price of $166.72 and a 200-day moving average price of $176.78. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.30 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. As a group, analysts forecast that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Monday, April 21st. Zoetis's dividend payout ratio is currently 36.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Leerink Partnrs raised shares of Zoetis to a "strong-buy" rating in a research report on Monday, December 2nd. Barclays lifted their target price on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. UBS Group initiated coverage on shares of Zoetis in a research report on Monday, December 9th. They set a "neutral" rating and a $196.00 target price on the stock. 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 target on the stock. Finally, Morgan Stanley lowered their price target on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $215.90.

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.