Alta Capital Management LLC Grows Stock Holdings in Zoetis Inc. $ZTS

Key Points

• Alta Capital Management LLC increased its stake in Zoetis Inc. by 1.8% during Q2, owning 165,389 shares valued at approximately $25.8 million.
• Zoetis reported a Q2 EPS of $1.76, exceeding analyst expectations and achieving a revenue of $2.46 billion, up 4.2% year-over-year.
• The company will pay a quarterly dividend of $0.50 per share on December 2nd, with a dividend yield of 1.4%.

Alta Capital Management LLC grew its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 165,389 shares of the company's stock after acquiring an additional 2,895 shares during the period. Zoetis comprises about 1.5% of Alta Capital Management LLC's holdings, making the stock its 26th biggest position. Alta Capital Management LLC's holdings in Zoetis were worth $25,792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Nova Wealth Management Inc. acquired a new position in Zoetis during the first quarter worth $25,000. 1248 Management LLC acquired a new stake in Zoetis in the first quarter valued at $27,000. Saudi Central Bank purchased a new position in shares of Zoetis in the first quarter valued at $29,000. REAP Financial Group LLC raised its stake in shares of Zoetis by 201.5% during the 2nd quarter. REAP Financial Group LLC now owns 196 shares of the company's stock worth $31,000 after buying an additional 131 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in shares of Zoetis by 79.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock worth $30,000 after buying an additional 88 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Zoetis Stock Performance

NYSE:ZTS opened at $142.08 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. The firm has a market cap of $62.97 billion, a PE ratio of 24.45, a P/E/G ratio of 2.30 and a beta of 0.90. The firm has a 50 day simple moving average of $148.89 and a 200-day simple moving average of $154.03. Zoetis Inc. has a 1-year low of $139.34 and a 1-year high of $196.55.

Zoetis (NYSE:ZTS - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.62 by $0.14. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The firm had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.41 billion. During the same period in the previous year, the company earned $1.56 EPS. Zoetis's revenue for the quarter was up 4.2% on a year-over-year basis. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities analysts expect that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, October 31st will be given a dividend of $0.50 per share. The ex-dividend date is Friday, October 31st. This represents a $2.00 annualized dividend and a yield of 1.4%. Zoetis's dividend payout ratio is 34.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ZTS shares. Piper Sandler raised their target price on shares of Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Zoetis in a research report on Wednesday, October 8th. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Argus restated a "buy" rating and set a $190.00 price objective on shares of Zoetis in a research report on Tuesday, September 9th. Finally, Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $196.71.

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.

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