Envestnet Portfolio Solutions Inc. Has $10.52 Million Holdings in Zoetis Inc. $ZTS

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Zoetis Inc. by 64.1% during Q2, now holding shares worth $10.52 million.
• Zoetis reported a net margin of 27.83% and a quarterly revenue of $2.46 billion, exceeding analyst expectations.
• The company has declared a quarterly dividend of $0.50 per share, set to be paid on December 2nd, 2023.

Envestnet Portfolio Solutions Inc. boosted its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 64.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,448 shares of the company's stock after buying an additional 26,337 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Zoetis were worth $10,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nova Wealth Management Inc. acquired a new position in Zoetis in the 1st quarter valued at $25,000. 1248 Management LLC acquired a new position in Zoetis in the 1st quarter valued at $27,000. Saudi Central Bank acquired a new position in Zoetis in the 1st quarter valued at $29,000. REAP Financial Group LLC grew its stake in Zoetis by 201.5% in the 2nd quarter. REAP Financial Group LLC now owns 196 shares of the company's stock valued at $31,000 after buying an additional 131 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its stake in Zoetis by 79.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after buying an additional 88 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Leerink Partnrs lowered shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and decreased their price target for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Weiss Ratings restated a "hold (c-)" rating on shares of Zoetis in a research report on Wednesday, October 8th. Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, Argus restated a "buy" rating and issued a $190.00 price target on shares of Zoetis in a research report on Tuesday, September 9th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Zoetis has a consensus rating of "Hold" and an average price target of $196.71.

Zoetis Price Performance

NYSE:ZTS opened at $142.29 on Tuesday. The company has a 50-day moving average of $149.04 and a 200-day moving average of $154.19. The company has a market capitalization of $63.06 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 2.26 and a beta of 0.90. Zoetis Inc. has a 52 week low of $139.34 and a 52 week high of $196.55. 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 (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $1.56 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities research analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.