Blue Zone Wealth Advisors LLC Raises Holdings in Zoetis Inc. $ZTS

Key Points

• Blue Zone Wealth Advisors LLC increased its holdings in Zoetis Inc. by 8.8%, owning 32,626 shares valued at approximately $5.09 million.
• Despite recent downgrades from some analysts, Zoetis received a target price increase from Piper Sandler, moving it from $210.00 to $215.00 with an “overweight” rating.
• Zoetis is set to pay a quarterly dividend of $0.50 per share on December 2nd, representing an annualized dividend of $2.00 and a yield of 1.4%.

Blue Zone Wealth Advisors LLC raised its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 8.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,626 shares of the company's stock after purchasing an additional 2,646 shares during the period. Blue Zone Wealth Advisors LLC's holdings in Zoetis were worth $5,088,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ZTS. Nuveen LLC purchased a new stake in Zoetis during the 1st quarter valued at $616,375,000. Mackenzie Financial Corp lifted its holdings in shares of Zoetis by 4,158.3% during the 1st quarter. Mackenzie Financial Corp now owns 1,824,967 shares of the company's stock valued at $300,481,000 after buying an additional 1,782,110 shares during the period. Polen Capital Management LLC lifted its holdings in shares of Zoetis by 17.6% during the 1st quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock valued at $1,448,401,000 after buying an additional 1,313,653 shares during the period. Amundi lifted its holdings in shares of Zoetis by 30.8% during the 1st quarter. Amundi now owns 3,595,628 shares of the company's stock valued at $575,691,000 after buying an additional 846,909 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Zoetis by 475.9% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 900,261 shares of the company's stock valued at $148,228,000 after buying an additional 743,926 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Weiss Ratings reissued a "hold (c-)" rating on shares of Zoetis in a report on Wednesday. Stifel Nicolaus cut Zoetis from a "buy" rating to a "hold" rating and lowered their price target for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Piper Sandler increased their price target on Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Finally, Argus reaffirmed a "buy" rating and issued a $190.00 target price on shares of Zoetis in a report on Tuesday, September 9th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $196.71.

Zoetis Trading Down 1.6%

Shares of Zoetis stock opened at $141.05 on Friday. The firm has a market cap of $62.51 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.30 and a beta of 0.90. Zoetis Inc. has a twelve month low of $139.34 and a twelve month high of $196.55. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05. The business has a 50-day moving average price of $149.24 and a 200-day moving average price of $154.46.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly 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. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The firm's revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

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

About Zoetis

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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