Morningstar Investment Management LLC Makes New Investment in Zoetis Inc. $ZTS

Key Points

• Morningstar Investment Management LLC acquired a new stake in Zoetis Inc., purchasing 6,052 shares valued at approximately $944,000 during the second quarter.
• Zoetis reported a 4.2% increase in revenue year-over-year, with a quarterly earnings per share (EPS) of $1.76, exceeding analysts' consensus estimates of $1.62.
• The company announced a quarterly dividend of $0.50 per share, indicating a 1.4% yield, with an ex-dividend date on October 31st.

Morningstar Investment Management LLC acquired a new stake in Zoetis Inc. (NYSE:ZTS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,052 shares of the company's stock, valued at approximately $944,000.

Several other institutional investors also recently bought and sold shares of the business. Moran Wealth Management LLC grew its holdings in Zoetis by 1.4% in the second quarter. Moran Wealth Management LLC now owns 66,723 shares of the company's stock valued at $10,405,000 after purchasing an additional 928 shares during the period. Cornerstone Wealth Group LLC grew its holdings in Zoetis by 20.2% in the second quarter. Cornerstone Wealth Group LLC now owns 2,712 shares of the company's stock valued at $423,000 after purchasing an additional 455 shares during the period. NorthRock Partners LLC grew its holdings in Zoetis by 12.3% in the second quarter. NorthRock Partners LLC now owns 6,115 shares of the company's stock valued at $954,000 after purchasing an additional 672 shares during the period. Verdence Capital Advisors LLC grew its holdings in Zoetis by 1.9% in the second quarter. Verdence Capital Advisors LLC now owns 11,057 shares of the company's stock valued at $1,724,000 after purchasing an additional 211 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Zoetis by 64.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 67,448 shares of the company's stock valued at $10,519,000 after purchasing an additional 26,337 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Zoetis Stock Performance

Shares of NYSE:ZTS opened at $142.29 on Tuesday. 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 business's 50 day moving average price is $149.04 and its 200-day moving average price is $154.19. The firm has a market capitalization of $63.06 billion, a PE ratio of 24.49, a P/E/G ratio of 2.26 and a beta of 0.90. Zoetis Inc. has a 1 year low of $139.34 and a 1 year high of $196.55.

Zoetis (NYSE:ZTS - Get Free Report) last announced 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. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the business posted $1.56 earnings per share. The firm's revenue was up 4.2% compared to the same quarter last year. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

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