OFI Invest Asset Management Purchases 67,984 Shares of Zoetis Inc. $ZTS

Key Points

• OFI Invest Asset Management increased its stake in Zoetis Inc. by 28.6% during the second quarter, acquiring an additional 67,984 shares, bringing its total holdings to 305,311 shares valued at approximately $47.6 million.
• Zoetis reported better-than-expected quarterly earnings with an EPS of $1.76, surpassing analysts' estimates of $1.62, and experienced a year-over-year revenue increase of 4.2% to $2.46 billion.
• The company announced a quarterly dividend of $0.50 per share, which will be distributed to stockholders on December 2nd, representing an annualized yield of 1.4%.

OFI Invest Asset Management grew its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 28.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 305,311 shares of the company's stock after buying an additional 67,984 shares during the quarter. OFI Invest Asset Management owned 0.07% of Zoetis worth $47,613,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Zoetis by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 41,556,164 shares of the company's stock worth $6,842,222,000 after purchasing an additional 189,287 shares during the period. Polen Capital Management LLC raised its holdings in shares of Zoetis by 17.6% in the 1st quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock worth $1,448,401,000 after purchasing an additional 1,313,653 shares during the period. Northern Trust Corp raised its holdings in shares of Zoetis by 1.2% in the 1st quarter. Northern Trust Corp now owns 6,504,902 shares of the company's stock worth $1,071,032,000 after purchasing an additional 78,508 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Zoetis by 2.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,146,024 shares of the company's stock worth $847,293,000 after purchasing an additional 109,791 shares during the period. Finally, Brown Advisory Inc. raised its holdings in shares of Zoetis by 7.6% in the 1st quarter. Brown Advisory Inc. now owns 4,408,542 shares of the company's stock worth $725,866,000 after purchasing an additional 312,746 shares during the period. Institutional investors own 92.80% of the company's stock.

Zoetis Stock Down 1.6%

ZTS opened at $141.05 on Friday. The company has a fifty day moving average price of $149.24 and a 200-day moving average price of $154.41. The firm has a market capitalization of $62.51 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 2.26 and a beta of 0.90. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. Zoetis Inc. has a one year low of $139.34 and a one year high of $196.55.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, beating 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 firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the business earned $1.56 EPS. The business's revenue for the quarter was up 4.2% on a year-over-year basis. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. 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. Stockholders of record on Friday, October 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, October 31st. Zoetis's payout ratio is currently 34.42%.

Analyst Ratings Changes

A number of equities research analysts recently commented on ZTS shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Zoetis in a report on Wednesday. Piper Sandler lifted their price objective on shares of Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and reduced their price objective for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Finally, Leerink Partnrs lowered shares of 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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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