Glenmede Trust Co. NA Boosts Stock Holdings in Zoetis Inc. $ZTS

Key Points

• Glenmede Trust increased its Zoetis stake by 36.5% in the first quarter, adding 62,034 shares to own 231,874 shares worth approximately $27.4 million. Institutional investors collectively own 92.8% of the stock.
• Analyst sentiment is mixed: eight analysts rate Zoetis a Buy, eight a Hold and one a Sell. The stock has an average rating of Hold and an average price target of $118.33 after several firms cut their targets.
• Zoetis shares opened at $77.37, near their 52-week low, after the company missed quarterly earnings and revenue estimates. The company declared a quarterly dividend of $0.53 per share, equal to a 2.7% annualized yield.

Glenmede Trust Co. NA grew its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 36.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,874 shares of the company's stock after purchasing an additional 62,034 shares during the period. Glenmede Trust Co. NA owned about 0.06% of Zoetis worth $27,410,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Prosperity Bancshares Inc purchased a new stake in Zoetis in the 4th quarter valued at about $25,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Zoetis in the first quarter valued at approximately $28,000. Root Financial Partners LLC grew its holdings in shares of Zoetis by 66.5% in the first quarter. Root Financial Partners LLC now owns 258 shares of the company's stock valued at $30,000 after acquiring an additional 103 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in shares of Zoetis during the fourth quarter valued at approximately $32,000. Finally, Wellington Grp LLC increased its position in shares of Zoetis by 6,675.0% during the first quarter. Wellington Grp LLC now owns 271 shares of the company's stock valued at $32,000 after acquiring an additional 267 shares during the last quarter. 92.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen cut Zoetis from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. HSBC decreased their target price on Zoetis from $140.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, July 6th. TD Cowen cut their price target on shares of Zoetis from $150.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Argus reaffirmed a "hold" rating on shares of Zoetis in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Zoetis from $190.00 to $130.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $118.33.

Zoetis Price Performance

Shares of NYSE ZTS opened at $77.37 on Friday. 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 fifty-two week low of $71.47 and a fifty-two week high of $160.48. The stock has a market cap of $32.44 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.21 and a beta of 0.75. The stock has a fifty day moving average of $77.05 and a 200-day moving average of $102.49.

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

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, July 20th will be paid a dividend of $0.53 per share. 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 payout ratio is currently 35.16%.

Insider Buying and Selling

In other news, Director Michael B. Mccallister bought 3,000 shares of the stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $77.76 per share, for a total transaction of $233,280.00. Following the purchase, the director directly owned 24,524 shares of the company's stock, valued at $1,906,986.24. This trade represents a 13.94% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank A. Damelio purchased 6,650 shares of the business's stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $75.39 per share, with a total value of $501,343.50. Following the completion of the acquisition, the director owned 21,458 shares in the company, valued at approximately $1,617,718.62. This trade represents a 44.91% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 11,650 shares of company stock valued at $886,384. Company insiders own 0.22% of the company's stock.

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.

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