Callahan Advisors LLC Grows Stock Holdings in Zoetis Inc. $ZTS

Key Points

• Callahan Advisors LLC increased its stake in Zoetis Inc. by 27.9%, acquiring an additional 4,020 shares, bringing its total holding to 18,408 shares valued at approximately $2.87 million.
• Numerous hedge funds modified their positions in Zoetis during the first quarter, with notable increases from institutions like Mackenzie Financial Corp and OVERSEA CHINESE BANKING Corp Ltd.
• Zoetis announced a quarterly dividend of $0.50 per share, reflecting an annualized dividend yield of 1.4%, with the payment scheduled for December 2nd.

Callahan Advisors LLC raised its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 27.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,408 shares of the company's stock after acquiring an additional 4,020 shares during the quarter. Callahan Advisors LLC's holdings in Zoetis were worth $2,871,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of Zoetis during the first quarter valued at about $616,375,000. Mackenzie Financial Corp increased its position in shares of Zoetis by 4,158.3% during the first 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 increased its position in shares of Zoetis by 17.6% during the first 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 increased its position in shares of Zoetis by 30.8% during the first 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 increased its position in shares of Zoetis by 475.9% during the first 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. Hedge funds and other institutional investors own 92.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. 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 reduced their price target for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Argus reiterated a "buy" rating and set a $190.00 price target on shares of Zoetis in a research report on Tuesday, September 9th. Leerink Partners cut shares of Zoetis from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a report 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 stock. Based on data from MarketBeat, Zoetis currently has an average rating of "Hold" and an average target price of $196.71.

Zoetis Price Performance

Shares of ZTS opened at $142.08 on Thursday. The stock has a market cap of $62.97 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. Zoetis Inc. has a fifty-two week low of $139.34 and a fifty-two week high of $196.55. The firm's 50-day simple moving average is $148.89 and its two-hundred day simple moving average is $154.03.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. The business had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The business's revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts anticipate 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. Stockholders of record on Friday, October 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, October 31st. Zoetis's dividend payout ratio is currently 34.42%.

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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