5 Best Pet Stocks to Buy Now

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1. Zoetis Inc. (NYSE:ZTS)

Number of Hedge Fund Holders: 56

Parsippany, New Jersey-based Zoetis Inc. (NYSE:ZTS) is a leading animal health company with a portfolio and pipeline of medicines, vaccines, diagnostics, and technologies offered in over 100 countries. Formerly a subsidiary of Pfizer Inc. (NYSE:PFE), the company became independent through a spinoff in 2013.

Zoetis Inc. (NYSE:ZTS) has been continuously making efforts to increase its product franchises in major markets. During the third quarter, the company received approvals for Simparica Trio, the company’s triple combination oral parasiticide for dogs, in Australia and Canada. The company launched Librela (bedinvetmab injection for osteoarthritis pain) and Apoquel Chewable (oclacitinib chewable tablet) in the U.S. in October.

Zoetis Inc. (NYSE:ZTS) has paid regular dividends since its spinoff from Pfizer Inc. (NYSE:PFE) with consecutive dividend increases for several years. The board of directors of the company increased the dividend rate by 15% in December 2022 to bring the quarterly dividend payment to $0.375. Its dividends have grown at a CAGR of 22.63% during the last 10 years.

Zoetis Inc. (NYSE:ZTS) ranks first on our list of best pet stocks to buy now. The shares of the company were owned by 56 hedge funds with a total value of $1.4 billion according to the Insider Monkey database. Rajiv Jain’s GQG Partners was the largest hedge fund shareholder with ownership of 1.8 million shares valued at $318 million.

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