Concurrent Investment Advisors LLC Boosts Stock Position in Zoetis Inc. $ZTS

Key Points

• Concurrent Investment Advisors LLC increased its stake in Zoetis Inc. by 17.9% during the second quarter, owning a total of 20,997 shares valued at approximately $3.27 million.
• Zoetis reported $1.76 earnings per share for its recent quarter, exceeding analysts' expectations, with revenue increasing 4.2% year-over-year.
• The company announced a quarterly dividend of $0.50 per share, with an annualized dividend yield of 1.4%, set to be paid on December 2nd.

Concurrent Investment Advisors LLC raised its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 17.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,997 shares of the company's stock after acquiring an additional 3,191 shares during the period. Concurrent Investment Advisors LLC's holdings in Zoetis were worth $3,274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. purchased a new stake in Zoetis during the 1st quarter valued at approximately $25,000. 1248 Management LLC purchased a new position in shares of Zoetis during the 1st quarter worth approximately $27,000. Saudi Central Bank purchased a new position in shares of Zoetis during the 1st quarter worth approximately $29,000. 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 in the last quarter. Finally, 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 in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

ZTS opened at $142.29 on Tuesday. The stock has a market cap of $63.06 billion, a P/E ratio of 24.49, a P/E/G ratio of 2.26 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. The stock's 50 day simple moving average is $149.04 and its 200 day simple moving average is $154.19. 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 quarterly earnings results 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 return on equity of 56.90% and a net margin of 27.83%.The company's revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.56 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

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

Analyst Ratings Changes

ZTS has been the subject of a number of analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Zoetis in a research note on Wednesday, October 8th. Stifel Nicolaus downgraded Zoetis from a "buy" rating to a "hold" rating and cut their target price for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Piper Sandler increased their target price on Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Finally, Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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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