Eastern Bank Has $3.77 Million Stock Position in Zoetis Inc. $ZTS

Key Points

• Eastern Bank reduced its stake in Zoetis Inc. by 26.0% during the second quarter, ending up with 24,173 shares valued at approximately $3.77 million.
• Institutional investors own 92.80% of Zoetis, with firms like Aberdeen Group and Davis Rea LTD. increasing their positions significantly in the last quarter.
• Zoetis announced a quarterly dividend of $0.50 per share, with an annual yield of 1.4%, to be paid on December 2nd to shareholders of record as of October 31st.

Eastern Bank trimmed its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 26.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,173 shares of the company's stock after selling 8,487 shares during the quarter. Eastern Bank's holdings in Zoetis were worth $3,770,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aberdeen Group plc boosted its holdings in Zoetis by 5.4% during the second quarter. Aberdeen Group plc now owns 1,155,604 shares of the company's stock worth $179,720,000 after buying an additional 59,245 shares during the last quarter. Davis Rea LTD. boosted its holdings in Zoetis by 96.6% during the second quarter. Davis Rea LTD. now owns 41,239 shares of the company's stock worth $6,431,000 after buying an additional 20,268 shares during the last quarter. Blue Zone Wealth Advisors LLC boosted its holdings in Zoetis by 8.8% during the second quarter. Blue Zone Wealth Advisors LLC now owns 32,626 shares of the company's stock worth $5,088,000 after buying an additional 2,646 shares during the last quarter. PDS Planning Inc boosted its holdings in Zoetis by 11.6% during the second quarter. PDS Planning Inc now owns 2,607 shares of the company's stock worth $407,000 after buying an additional 270 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Zoetis by 11.8% during the second quarter. Blue Trust Inc. now owns 5,854 shares of the company's stock worth $913,000 after buying an additional 616 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Argus restated a "buy" rating and set a $190.00 target price on shares of Zoetis in a report on Tuesday, September 9th. Weiss Ratings restated a "hold (c-)" rating on shares of Zoetis in a report on Wednesday. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. 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. Finally, Leerink Partners cut Zoetis from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $180.00 to $155.00 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 company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $196.71.

Zoetis Trading Down 1.6%

NYSE:ZTS opened at $141.05 on Friday. Zoetis Inc. has a fifty-two week low of $139.34 and a fifty-two week high of $196.55. 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 has a market capitalization of $62.51 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90. The business's 50-day simple moving average is $149.24 and its 200-day simple moving average is $154.46.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $2.41 billion. During the same quarter in the previous year, the business posted $1.56 EPS. Zoetis's revenue for the quarter was up 4.2% on a year-over-year basis. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts expect 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. Shareholders of record on Friday, October 31st will be paid a $0.50 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.00 annualized dividend and a yield of 1.4%. Zoetis's payout ratio is presently 34.42%.

About Zoetis

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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