Zoetis Inc. $ZTS Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lessened its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,847 shares of the company's stock after selling 21,724 shares during the period. Bank of Nova Scotia's holdings in Zoetis were worth $10,975,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Prosperity Bancshares Inc acquired a new position in Zoetis in the 4th quarter worth about $25,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Zoetis during the 1st quarter worth approximately $28,000. Lodestone Wealth Management LLC purchased a new stake in shares of Zoetis during the 4th quarter valued at approximately $30,000. Elyxium Wealth LLC purchased a new stake in Zoetis in the fourth quarter valued at $32,000. Finally, Root Financial Partners LLC increased its position in shares of Zoetis by 66.5% during the 1st quarter. Root Financial Partners LLC now owns 258 shares of the company's stock worth $30,000 after purchasing an additional 103 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZTS. Wall Street Zen cut shares of Zoetis from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Weiss Ratings cut Zoetis from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, June 12th. JPMorgan Chase & Co. cut their price objective on Zoetis from $190.00 to $130.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. UBS Group decreased their target price on Zoetis from $130.00 to $99.00 and set a "neutral" rating on the stock in a research note on Friday, May 8th. Finally, HSBC cut their target price on shares of Zoetis from $140.00 to $95.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $119.50.

Zoetis Trading Down 0.0%

ZTS opened at $75.32 on Monday. The company has a quick ratio of 1.91, a current ratio of 3.15 and a debt-to-equity ratio of 2.80. Zoetis Inc. has a 52 week low of $71.47 and a 52 week high of $160.48. The business's 50 day moving average is $77.29 and its two-hundred day moving average is $104.08. The firm has a market cap of $31.58 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.18 and a beta of 0.75.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.60 by ($0.07). The business had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.30 billion. Zoetis had a return on equity of 66.85% and a net margin of 27.80%.The business's revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $1.48 earnings per share. Zoetis has set its FY 2026 guidance at 6.850-7.000 EPS. On average, research analysts predict that Zoetis Inc. will post 6.87 EPS for the current year.

Zoetis Announces Dividend

The firm 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 $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.8%. Zoetis's payout ratio is currently 35.16%.

Insider Activity at Zoetis

In related news, Director Frank A. Damelio purchased 6,650 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $75.39 per share, with a total value of $501,343.50. Following the completion of the transaction, the director owned 21,458 shares of the company's stock, valued at approximately $1,617,718.62. This trade represents a 44.91% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Bisaro purchased 2,000 shares of the company's stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $75.88 per share, with a total value of $151,760.00. Following the completion of the purchase, the director directly owned 27,862 shares of the company's stock, valued at $2,114,168.56. The trade was a 7.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 11,650 shares of company stock worth $886,384. 0.22% of the stock is currently owned by insiders.

Key Headlines Impacting Zoetis

Here are the key news stories impacting Zoetis this week:

• Negative Sentiment: Several firms announced or promoted securities-fraud litigation against Zoetis, which can weigh on sentiment by raising legal, financial, and reputational risk for the company. Zoetis Inc. (ZTS) Shareholders Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit
• Negative Sentiment: The class-action deadline reminders may keep the controversy in the spotlight and encourage more shareholder claims, adding overhang to the stock. ZOETIS CLASS ACTION DEADLINE MONDAY JULY 27th
• Neutral Sentiment: One Seeking Alpha commentary argues Zoetis sentiment remains strong and fundamentals are improving, offering a more constructive longer-term view. Zoetis: Sentiment Keeps Winning As Fundamentals Improve

About Zoetis

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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