Bridges Investment Management Inc. Sells 4,101 Shares of Zoetis Inc. $ZTS

Key Points

• Bridges Investment Management Inc. reduced its stake in Zoetis Inc. by 1.5%, selling 4,101 shares, and now holds approximately 267,452 shares valued at $41.7 million.
• Institutional investors dominate Zoetis's ownership, accounting for 92.80% of the stock, with Vanguard and Polen Capital being notable investors having increased their positions recently.
• Zoetis announced a quarterly dividend of $0.50 per share, to be paid on December 2nd, representing an annual yield of 1.4% based on current pricing.

Bridges Investment Management Inc. cut its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 267,452 shares of the company's stock after selling 4,101 shares during the period. Bridges Investment Management Inc. owned about 0.06% of Zoetis worth $41,709,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Zoetis by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 41,556,164 shares of the company's stock valued at $6,842,222,000 after purchasing an additional 189,287 shares in the last quarter. Polen Capital Management LLC raised its position in shares of Zoetis by 17.6% in the 1st quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock worth $1,448,401,000 after acquiring an additional 1,313,653 shares in the last quarter. Northern Trust Corp raised its position in shares of Zoetis by 1.2% in the 1st quarter. Northern Trust Corp now owns 6,504,902 shares of the company's stock worth $1,071,032,000 after acquiring an additional 78,508 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Zoetis by 2.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,146,024 shares of the company's stock worth $847,293,000 after acquiring an additional 109,791 shares in the last quarter. Finally, Brown Advisory Inc. raised its position in shares of Zoetis by 7.6% in the 1st quarter. Brown Advisory Inc. now owns 4,408,542 shares of the company's stock worth $725,866,000 after acquiring an additional 312,746 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Argus reissued a "buy" rating and issued a $190.00 price target on shares of Zoetis in a research report on Tuesday, September 9th. Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Weiss Ratings reissued a "hold (c-)" rating on shares of Zoetis in a research report on Wednesday, October 8th. Piper Sandler boosted their price target on Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Finally, Leerink Partnrs lowered Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $196.71.

Zoetis Trading Down 1.0%

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

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

Zoetis Announces Dividend

The company 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 $0.50 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. Zoetis's dividend payout ratio is currently 34.42%.

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.

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