Oppenheimer Asset Management Inc. Reduces Stock Holdings in Zoetis Inc. $ZTS

Key Points

• Oppenheimer Asset Management cut its Zoetis holdings by 44.7% in the second quarter, selling 80,976 shares and retaining 100,377 shares worth approximately $7.2 million. Institutional investors collectively own 92.8% of the company.
• Analyst sentiment is mixed, with eight Buy, nine Hold and two Sell ratings; Zoetis has a consensus rating of Hold and an average price target of $109.62, despite several recent target reductions.
• Zoetis shares opened at $73.64, near their 52-week low, while quarterly EPS of $1.87 exceeded estimates but revenue of $2.47 billion fell slightly year over year. The company declared a quarterly dividend of $0.53 per share, representing a 2.9% yield.

Oppenheimer Asset Management Inc. reduced its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 44.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,377 shares of the company's stock after selling 80,976 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Zoetis were worth $7,213,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. RFG Advisory LLC boosted its holdings in Zoetis by 4.9% in the 4th quarter. RFG Advisory LLC now owns 1,708 shares of the company's stock valued at $215,000 after purchasing an additional 80 shares during the last quarter. Quest 10 Wealth Builders Inc. grew its stake in shares of Zoetis by 4.7% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 1,904 shares of the company's stock valued at $240,000 after buying an additional 86 shares during the period. Financial Engines Advisors L.L.C. increased its holdings in shares of Zoetis by 4.4% during the 3rd 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. increased its holdings in shares of Zoetis by 17.4% during the 1st quarter. Physician Wealth Advisors Inc. now owns 615 shares of the company's stock worth $73,000 after buying an additional 91 shares during the last quarter. Finally, Smithfield Trust Co raised its position in shares of Zoetis by 4.2% during the 4th quarter. Smithfield Trust Co now owns 2,294 shares of the company's stock valued at $290,000 after buying an additional 92 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. HSBC decreased their price objective on Zoetis from $140.00 to $95.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Zacks Research cut Zoetis from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. William Blair restated a "market perform" rating on shares of Zoetis in a research report on Thursday, August 6th. JPMorgan Chase & Co. decreased their price target on Zoetis from $130.00 to $115.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Finally, Morgan Stanley set a $85.00 price target on Zoetis in a report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Zoetis has a consensus rating of "Hold" and an average price target of $109.62.

Zoetis Stock Down 2.9%

Shares of NYSE:ZTS opened at $73.64 on Friday. The firm's 50 day moving average price is $76.30 and its 200 day moving average price is $99.01. The stock has a market cap of $30.43 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.31 and a beta of 0.74. Zoetis Inc. has a fifty-two week low of $71.45 and a fifty-two week high of $160.48. 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 results on Thursday, August 6th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. Zoetis had a net margin of 27.49% and a return on equity of 74.89%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the firm earned $1.76 earnings per share. The firm's quarterly revenue was down .2% on a year-over-year basis. Zoetis has set its FY 2026 guidance at 6.150-6.250 EPS. As a group, equities research analysts predict that Zoetis Inc. will post 6.19 earnings per share for the current fiscal year.

Zoetis Announces Dividend

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

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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