Fifth Third Bancorp Decreases Stake in Zoetis Inc. $ZTS

Key Points

• Fifth Third Bancorp reduced its Zoetis stake by 20.6% in the second quarter, selling 29,167 shares and retaining 112,370 shares valued at approximately $8.1 million. Institutional investors collectively own 92.8% of Zoetis.
• Zoetis shares opened at $73.64, near their 52-week low of $71.45 and down significantly from the $160.48 high. The company’s latest earnings beat estimates slightly, with $1.87 in adjusted EPS on $2.47 billion in revenue, while revenue declined 0.2% year over year.
• Zoetis declared a quarterly dividend of $0.53 per share, equivalent to a 2.9% yield. Analysts’ consensus rating is “Hold,” with an average price target of $109.62 following several target-price reductions.

Fifth Third Bancorp cut its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 20.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,370 shares of the company's stock after selling 29,167 shares during the quarter. Fifth Third Bancorp's holdings in Zoetis were worth $8,075,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. RFG Advisory LLC grew its position in shares of Zoetis by 4.9% in the fourth quarter. RFG Advisory LLC now owns 1,708 shares of the company's stock valued at $215,000 after purchasing an additional 80 shares in the last quarter. Quest 10 Wealth Builders Inc. boosted its stake in Zoetis by 4.7% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 1,904 shares of the company's stock worth $240,000 after buying an additional 86 shares during the last quarter. Financial Engines Advisors L.L.C. boosted its stake in Zoetis by 4.4% during the third quarter. Financial Engines Advisors L.L.C. now owns 2,043 shares of the company's stock worth $299,000 after buying an additional 87 shares during the last quarter. Physician Wealth Advisors Inc. grew its holdings in Zoetis by 17.4% in the 1st quarter. Physician Wealth Advisors Inc. now owns 615 shares of the company's stock valued at $73,000 after buying an additional 91 shares in the last quarter. Finally, Smithfield Trust Co increased its stake in shares of Zoetis by 4.2% in the 4th quarter. Smithfield Trust Co now owns 2,294 shares of the company's stock worth $290,000 after acquiring an additional 92 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Zoetis Stock Down 2.9%

NYSE:ZTS opened at $73.64 on Friday. Zoetis Inc. has a 52 week low of $71.45 and a 52 week high of $160.48. The stock's fifty day moving average is $76.30 and its two-hundred day moving average is $99.01. The stock has a market capitalization of $30.43 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74. The company has a quick ratio of 1.84, a current ratio of 3.08 and a debt-to-equity ratio of 2.87.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.02. The business had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.50 billion. Zoetis had a return on equity of 74.89% and a net margin of 27.49%.The company's revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.76 earnings per share. Zoetis has set its FY 2026 guidance at 6.150-6.250 EPS. Research analysts anticipate that Zoetis Inc. will post 6.19 EPS for the current year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, July 20th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, July 20th. Zoetis's payout ratio is currently 34.93%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ZTS shares. TD Cowen reduced their price target on Zoetis from $150.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. UBS Group dropped their price objective on shares of Zoetis from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Friday, August 7th. Argus restated a "hold" rating on shares of Zoetis in a research report on Wednesday, May 27th. 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 note on Wednesday, July 1st. Finally, BNP Paribas Exane decreased their target price on shares of Zoetis from $146.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday, August 11th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $109.62.

Zoetis Profile

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.

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