Chevy Chase Trust Holdings LLC Grows Stake in Zoetis Inc. $ZTS

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in Zoetis Inc. by 0.8% during Q2, now owning 241,167 shares worth approximately $37.61 million.
• Zoetis reported a Q2 EPS of $1.76, beating expectations, with revenue of $2.46 billion, and has set FY 2025 guidance at $6.30-$6.40 EPS.
• The company declared a quarterly dividend of $0.50 per share, with an ex-dividend date of October 31st, representing an annualized yield of 1.4%.

Chevy Chase Trust Holdings LLC lifted its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 241,167 shares of the company's stock after buying an additional 1,948 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Zoetis worth $37,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ZTS. Nova Wealth Management Inc. purchased a new position in shares of Zoetis in the 1st quarter worth $25,000. 1248 Management LLC purchased a new position in shares of Zoetis in the 1st quarter worth $27,000. Saudi Central Bank purchased a new position in shares of Zoetis in the 1st quarter worth $29,000. Cornerstone Planning Group LLC boosted its stake in shares of Zoetis by 79.3% in 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. Finally, REAP Financial Group LLC boosted its stake in shares of Zoetis by 201.5% in 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. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Price Performance

NYSE:ZTS opened at $144.15 on Friday. 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's 50-day simple moving average is $148.73 and its two-hundred day simple moving average is $153.76. The stock has a market cap of $63.88 billion, a PE ratio of 24.81, a P/E/G ratio of 2.30 and a beta of 0.90. Zoetis Inc. has a 52 week low of $139.34 and a 52 week high of $193.49.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, beating 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 return on equity of 56.90% and a net margin of 27.83%.The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, October 31st will be issued 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 yield of 1.4%. Zoetis's dividend payout ratio (DPR) is currently 34.42%.

Analysts Set New Price Targets

ZTS has been the topic of a number of recent research reports. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Argus reaffirmed a "buy" rating and issued a $190.00 target price on shares of Zoetis in a report on Tuesday, September 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Zoetis in a report on Wednesday, October 8th. Leerink Partners cut Zoetis from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $180.00 to $155.00 in a report on Thursday, July 17th. Finally, Piper Sandler raised their target price on Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $196.71.

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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