Equitable Trust Co. Sells 1,975 Shares of Zoetis Inc. $ZTS

Key Points

• Equitable Trust Co. sold 1,975 shares of Zoetis Inc., reducing its stake by 7.9% to a total of 23,004 shares worth approximately $3.59 million.
• Zoetis reported a quarterly earning of $1.76 EPS, exceeding analysts' expectations of $1.62, and revenue for the quarter rose by 4.2% year-over-year to $2.46 billion.
• The company declared a quarterly dividend of $0.50 per share, representing an annualized yield of 1.4%, with the payout date set for December 2nd.

Equitable Trust Co. decreased its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 7.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,004 shares of the company's stock after selling 1,975 shares during the period. Equitable Trust Co.'s holdings in Zoetis were worth $3,587,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ZTS. Nova Wealth Management Inc. acquired a new position in Zoetis in the first quarter valued at about $25,000. 1248 Management LLC acquired a new position in Zoetis in the first quarter valued at about $27,000. Saudi Central Bank acquired a new position in Zoetis in the first quarter valued at about $29,000. REAP Financial Group LLC lifted its stake in Zoetis by 201.5% in the second 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 period. Finally, Cornerstone Planning Group LLC lifted its stake in Zoetis by 79.3% in the first 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 period. Institutional investors own 92.80% of the company's stock.

Zoetis Stock Up 0.8%

Shares of Zoetis stock opened at $142.29 on Tuesday. The business's 50 day simple moving average is $149.04 and its 200 day simple moving average is $154.19. Zoetis Inc. has a 52-week low of $139.34 and a 52-week high of $196.55. The firm has a market cap of $63.06 billion, a PE 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 quick ratio of 1.04 and a current ratio of 1.76.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $2.41 billion. During the same quarter last year, the firm earned $1.56 EPS. Zoetis's revenue for the quarter was up 4.2% compared to the same quarter last year. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, analysts predict that Zoetis Inc. will post 6.07 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, December 2nd. Shareholders of record on Friday, October 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, October 31st. Zoetis's dividend payout ratio (DPR) is currently 34.42%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Leerink Partnrs lowered Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Weiss Ratings reissued a "hold (c-)" rating on shares of Zoetis in a research note on Wednesday, October 8th. Piper Sandler increased their target price on Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and dropped their price target for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Finally, Argus reaffirmed a "buy" rating and set 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 stock. According to data from MarketBeat, Zoetis currently has an average rating of "Hold" and an average price target 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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