Nordea Investment Management AB Raises Stake in Zoetis Inc. $ZTS

Key Points

• Nordea Investment Management AB increased its stake in Zoetis Inc. by 10%, owning over 2.35 million shares valued at approximately $368 million as of the latest SEC filing.
• Several other institutional investors also adjusted their stakes in Zoetis, with over 92% of the company's stock held by such investors, reflecting strong institutional interest.
• Zoetis recently announced a $0.50 quarterly dividend to be paid on December 2nd, indicating an annualized dividend yield of 1.4%.

Nordea Investment Management AB raised its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 10.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,356,166 shares of the company's stock after purchasing an additional 214,889 shares during the quarter. Nordea Investment Management AB owned 0.53% of Zoetis worth $368,245,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in Zoetis during the first quarter valued at $616,375,000. Mackenzie Financial Corp raised its stake in Zoetis by 4,158.3% during the first quarter. Mackenzie Financial Corp now owns 1,824,967 shares of the company's stock valued at $300,481,000 after purchasing an additional 1,782,110 shares in the last quarter. Polen Capital Management LLC raised its stake in Zoetis by 17.6% during the first quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock valued at $1,448,401,000 after purchasing an additional 1,313,653 shares in the last quarter. Amundi raised its stake in Zoetis by 30.8% during the first quarter. Amundi now owns 3,595,628 shares of the company's stock valued at $575,691,000 after purchasing an additional 846,909 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its stake in Zoetis by 475.9% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 900,261 shares of the company's stock valued at $148,228,000 after purchasing an additional 743,926 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ZTS. Leerink Partnrs downgraded shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Argus reaffirmed a "buy" rating and set a $190.00 price target on shares of Zoetis in a research note on Tuesday, September 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Zoetis in a research note on Wednesday, October 8th. Leerink Partners cut shares of Zoetis from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, Piper Sandler boosted their price objective on shares of Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $196.71.

Zoetis Trading Up 0.7%

NYSE ZTS opened at $143.14 on Friday. The company's 50-day moving average price is $148.79 and its 200-day moving average price is $153.88. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. The stock has a market cap of $63.44 billion, a PE ratio of 24.64, a PEG ratio of 2.28 and a beta of 0.90. Zoetis Inc. has a 12 month low of $139.34 and a 12 month high of $196.55.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. The firm'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. Equities research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, October 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend 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 is 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.

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