Zoetis Inc. $ZTS Stake Lessened by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in Zoetis Inc. (NYSE:ZTS) by 14.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 399,172 shares of the company’s stock after selling 68,430 shares during the period. Federated Hermes Inc. owned about 0.09% of Zoetis worth $62,251,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Zoetis in the 2nd quarter worth about $809,491,000. Nuveen LLC acquired a new position in shares of Zoetis in the 1st quarter valued at about $616,375,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Zoetis by 113.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,761,920 shares of the company’s stock worth $586,671,000 after purchasing an additional 1,995,491 shares in the last quarter. Polen Capital Management LLC boosted its holdings in shares of Zoetis by 17.6% during the first quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company’s stock worth $1,448,401,000 after purchasing an additional 1,313,653 shares during the period. Finally, Impax Asset Management Group plc boosted its holdings in shares of Zoetis by 362.6% during the second quarter. Impax Asset Management Group plc now owns 1,176,996 shares of the company’s stock worth $182,705,000 after purchasing an additional 922,589 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Ratings Changes

ZTS has been the subject of a number of research reports. BTIG Research reissued a “buy” rating and set a $160.00 target price on shares of Zoetis in a research note on Wednesday, December 3rd. Argus reaffirmed a “buy” rating and issued a $190.00 target price on shares of Zoetis in a research report on Tuesday, September 9th. KeyCorp began coverage on Zoetis in a research note on Thursday, November 20th. They set a “sector weight” rating for the company. Piper Sandler boosted their price target on Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Zoetis from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $178.89.

Zoetis Stock Performance

ZTS opened at $118.69 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.28 and a current ratio of 3.64. The company has a market cap of $52.31 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.46 and a beta of 0.97. The stock has a 50-day moving average of $133.77 and a 200-day moving average of $147.57. Zoetis Inc. has a 52-week low of $115.25 and a 52-week high of $181.85.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, November 4th. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.08. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.42 billion. Zoetis had a return on equity of 57.19% and a net margin of 28.21%.The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Friday, October 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, October 31st. Zoetis’s dividend payout ratio is currently 33.67%.

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.