Zoetis Inc. $ZTS Shares Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel increased its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 114.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,969 shares of the company's stock after acquiring an additional 170,549 shares during the period. Zoetis makes up about 1.0% of Carnegie Investment Counsel's investment portfolio, making the stock its 18th biggest position. Carnegie Investment Counsel owned approximately 0.07% of Zoetis worth $49,743,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ZTS. Nova Wealth Management Inc. acquired a new stake in shares of Zoetis in the 1st quarter worth approximately $25,000. 1248 Management LLC acquired a new stake in Zoetis during the 1st quarter valued at $27,000. Saudi Central Bank acquired a new stake in Zoetis during the 1st quarter valued at $29,000. Cornerstone Planning Group LLC grew its holdings in Zoetis by 79.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after buying an additional 88 shares during the last quarter. Finally, REAP Financial Group LLC grew its holdings in Zoetis by 201.5% during the 2nd quarter. REAP Financial Group LLC now owns 196 shares of the company's stock valued at $31,000 after buying an additional 131 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Zoetis Price Performance

ZTS stock opened at $146.38 on Friday. Zoetis Inc. has a 52-week low of $139.34 and a 52-week high of $188.25. The stock's fifty day simple moving average is $148.34 and its 200-day simple moving average is $153.49. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $64.87 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 2.36 and a beta of 0.90.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.14. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The business had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same quarter last year, the firm earned $1.56 earnings per share. The business's revenue 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 EPS for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, October 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, October 31st. Zoetis's dividend payout ratio (DPR) is 34.42%.

Analysts Set New Price Targets

A number of brokerages have commented on ZTS. Weiss Ratings reiterated a "hold (c-)" rating on shares of Zoetis in a report on Wednesday, October 8th. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Argus reiterated a "buy" rating and set a $190.00 target price on shares of Zoetis in a report on Tuesday, September 9th. Leerink Partners cut Zoetis from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Finally, Piper Sandler increased their target price on Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Zoetis currently has an average rating of "Hold" and an average target price of $195.00.

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.

Want to see what other hedge funds are holding ZTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoetis Inc. (NYSE:ZTS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.