Stocks

Ownership Capital B.V. Reduces Stake in Zoetis Inc. (NYSE:ZTS)

Published November 10, 2024

In a recent filing with the Securities and Exchange Commission, Ownership Capital B.V. announced a decrease in its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 4.7% during the third quarter. After divesting 37,666 shares, the firm now owns a total of 771,618 shares of the company. This reduction represents approximately 4.8% of Ownership Capital B.V.'s investment portfolio, positioning Zoetis as the firm’s 10th largest investment. According to the latest SEC report, Ownership Capital B.V.’s shares in Zoetis are valued at approximately $150.76 million, which equates to around 0.17% of the total outstanding shares of the company.

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Several other hedge funds have also adjusted their positions regarding Zoetis. Mesirow Financial Investment Management Inc. significantly increased its stake by 105.5% in the third quarter, acquiring an additional 42,258 shares to bring its total to 82,298 shares, worth about $16.08 million. Atria Investments Inc. raised its investment by 1.7%, now holding 91,868 shares valued at $17.95 million after adding 1,495 shares. Meanwhile, First Personal Financial Services entered the game by purchasing a new stake valued at $33,000. TCTC Holdings LLC expanded its holdings by 2.8%, owning 41,760 shares valued at about $8.16 million after acquiring an extra 1,153 shares. Lastly, Bridges Investment Management Inc. increased its ownership by 1.0%, resulting in a total of 276,861 shares valued at around $54.09 million. Currently, institutional investors hold about 92.80% of Zoetis's stock.

Performance Overview for Zoetis

As of Friday, ZTS shares opened at $176.82. The company holds a market capitalization of $79.77 billion, with a price-to-earnings ratio standing at 33.24 and a PEG ratio of 2.71. With a beta of 0.90, the firm shows a quick ratio of 2.09, a current ratio of 3.69, and a debt-to-equity ratio of 1.26. Over the past year, Zoetis stock has experienced a low of $144.80 and a high of $201.92, while its 50-day and 200-day simple moving averages are $188.15 and $179.35, respectively.

Market Insights: Week in Review (July 31 - August 4)

On November 4th, Zoetis reported its quarterly earnings, announcing an earnings per share (EPS) of $1.58, surpassing expectations of $1.46 by $0.12. The company achieved a return on equity of 51.98% and maintained a net margin of 26.55%. Revenue for the quarter reached $2.40 billion, exceeding analysts' predictions of $2.29 billion. This reflects a year-over-year growth rate of 11.6%, compared to an EPS of $1.36 in the same quarter last year. Analysts predict that Zoetis Inc. is expected to post earnings of around 5.9 per share for the current fiscal year.

Dividend Announcement for Zoetis

Recently, Zoetis announced a quarterly dividend, set for payment on December 3rd. Shareholders who are on record as of October 31st will receive a dividend of $0.432, resulting in an annualized total of $1.73 and an estimated yield of 0.98%. The ex-dividend date is also scheduled for October 31st, with the company's dividend payout ratio standing at 32.33%.

Analyst Forecasts for Zoetis

Zoetis: A Promising Stock with Rising Dividends

Recently, various research analysts have updated their targets for Zoetis shares. BTIG Research raised their target price from $220.00 to $225.00 and issued a “buy” rating on August 12th. Similarly, JPMorgan Chase & Co. increased their price objective from $225.00 to $230.00, also marking the stock as “overweight” in an October report. Argus Research upgraded Zoetis to a “strong buy” on August 9th. Stifel Nicolaus and Piper Sandler also raised their price targets to $210.00 and $210.00, respectively. At present, ten analysts have given Zoetis a buy rating, while one has offered a strong buy recommendation. MarketBeat’s data indicates the consensus rating on the stock is “Buy” with an average target price of $221.44.

Explore Our Latest Research on Zoetis

About Zoetis Inc.

Zoetis Inc. is engaged in the research, development, production, and marketing of animal health medicines, vaccines, and diagnostic products and services, both in the U.S. and around the globe. The firm offers its products mainly for various species, including livestock (cattle, swine, poultry, fish, and sheep) and companion animals (dogs, cats, and horses).

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This article was generated using financial data analytics to provide timely and accurate reporting. Any inquiries regarding this publication can be directed to the editorial team.

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