Zoetis Inc. $ZTS Shares Purchased by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management Inc. increased its stake in Zoetis Inc. by 2.4% in Q2, holding 119,049 shares valued at approximately $18.57 million, making it the company's 28th largest investment.
• Zoetis recently announced a quarterly dividend of $0.50 per share, with an ex-dividend date of October 31st, reflecting a 1.4% yield and a payout ratio of 34.42%.
• The company reported strong quarterly earnings with $1.76 EPS, exceeding analysts' estimates, and anticipates posting 6.07 EPS for the current fiscal year.

Cidel Asset Management Inc. increased its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,049 shares of the company's stock after purchasing an additional 2,735 shares during the period. Zoetis accounts for about 1.1% of Cidel Asset Management Inc.'s holdings, making the stock its 28th biggest holding. Cidel Asset Management Inc.'s holdings in Zoetis were worth $18,566,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Nova Wealth Management Inc. acquired a new stake in shares of Zoetis during the first quarter valued at about $25,000. 1248 Management LLC acquired a new stake in shares of Zoetis during the first quarter valued at about $27,000. Saudi Central Bank acquired a new stake in shares of Zoetis during the first quarter valued at about $29,000. Cornerstone Planning Group LLC increased its position in shares of Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Finally, REAP Financial Group LLC increased its position in shares of Zoetis by 201.5% during the second quarter. REAP Financial Group LLC now owns 196 shares of the company's stock valued at $31,000 after acquiring an additional 131 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Trading Up 0.6%

NYSE ZTS opened at $144.15 on Friday. The firm has a 50 day simple moving average of $148.73 and a 200-day simple moving average of $153.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. Zoetis Inc. has a one year low of $139.34 and a one year high of $193.49. The firm has a market cap of $63.88 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 2.32 and a beta of 0.90.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) 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 the consensus estimate of $2.41 billion. During the same quarter in the previous year, the firm earned $1.56 earnings per share. The firm's quarterly 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 anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently declared 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 is Friday, October 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. Zoetis's payout ratio is currently 34.42%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ZTS. Leerink Partners cut shares of Zoetis from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Piper Sandler raised 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. Argus reissued a "buy" rating and issued a $190.00 price objective on shares of Zoetis in a research note on Tuesday, September 9th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Zoetis in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $196.71.

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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