Confluence Investment Management LLC Grows Stock Holdings in Zoetis Inc. $ZTS

Key Points

• Confluence Investment Management increased its Zoetis stake by 228.1% in the second quarter, bringing its holdings to 465,449 shares valued at approximately $33.4 million. Institutional investors collectively own 92.8% of the company.
• Zoetis reported quarterly EPS of $1.53, below the $1.60 analyst consensus, while revenue rose 2.9% year over year to $2.26 billion. The company declared a quarterly dividend of $0.53, representing a 2.7% annualized yield.
• Zoetis shares opened at $77.13, well below their 52-week high of $160.48. Analysts have mixed views, with an overall “Hold” rating and an average price target of $118.33 after several firms reduced their targets.

Confluence Investment Management LLC grew its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 228.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 465,449 shares of the company's stock after acquiring an additional 323,586 shares during the period. Confluence Investment Management LLC owned about 0.11% of Zoetis worth $33,447,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Prosperity Bancshares Inc acquired a new stake in Zoetis in the 4th quarter valued at $25,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Zoetis during the first quarter worth about $28,000. Elyxium Wealth LLC purchased a new stake in shares of Zoetis in the fourth quarter worth about $32,000. Root Financial Partners LLC boosted its position in shares of Zoetis by 66.5% in the first quarter. Root Financial Partners LLC now owns 258 shares of the company's stock worth $30,000 after buying an additional 103 shares during the period. Finally, Wellington Grp LLC grew its stake in shares of Zoetis by 6,675.0% in the first quarter. Wellington Grp LLC now owns 271 shares of the company's stock valued at $32,000 after buying an additional 267 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Insiders Place Their Bets

In related news, Director Michael B. Mccallister bought 3,000 shares of the company's stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $77.76 per share, with a total value of $233,280.00. Following the transaction, the director owned 24,524 shares of the company's stock, valued at approximately $1,906,986.24. This trade represents a 13.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank A. Damelio purchased 6,650 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $75.39 per share, with a total value of $501,343.50. Following the completion of the purchase, the director directly owned 21,458 shares of the company's stock, valued at approximately $1,617,718.62. This represents a 44.91% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 11,650 shares of company stock valued at $886,384 in the last ninety days. Corporate insiders own 0.22% of the company's stock.

Zoetis Stock Down 0.2%

Shares of NYSE ZTS opened at $77.13 on Tuesday. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.91 and a current ratio of 3.15. Zoetis Inc. has a 1 year low of $71.47 and a 1 year high of $160.48. The stock's 50-day simple moving average is $76.97 and its 200-day simple moving average is $101.99. The firm has a market cap of $32.33 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.21 and a beta of 0.73.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.53 EPS for the quarter, missing analysts' consensus estimates of $1.60 by ($0.07). Zoetis had a net margin of 27.80% and a return on equity of 66.85%. The business had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.30 billion. During the same period in the prior year, the company posted $1.48 EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. Zoetis has set its FY 2026 guidance at 6.850-7.000 EPS. As a group, equities analysts anticipate that Zoetis Inc. will post 6.87 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.7%. Zoetis's dividend payout ratio is currently 35.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley dropped their target price on Zoetis from $115.00 to $99.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Argus restated a "hold" rating on shares of Zoetis in a report on Wednesday, May 27th. TD Cowen lowered their price objective on shares of Zoetis from $150.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. UBS Group dropped their price objective on shares of Zoetis from $99.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, July 27th. Finally, Barclays reduced their target price on shares of Zoetis from $136.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 1st. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Zoetis has an average rating of "Hold" and an average target price of $118.33.

About Zoetis

Zoetis Inc NYSE: ZTS is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company's offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.