Addenda Capital Inc. Acquires Shares of 29,372 Zoetis Inc. $ZTS

Addenda Capital Inc. bought a new position in shares of Zoetis Inc. (NYSE:ZTS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 29,372 shares of the company’s stock, valued at approximately $4,298,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nova Wealth Management Inc. bought a new position in Zoetis in the first quarter worth approximately $25,000. 1248 Management LLC purchased a new stake in shares of Zoetis in the 1st quarter worth $27,000. Saudi Central Bank bought a new position in shares of Zoetis during the 1st quarter worth $29,000. REAP Financial Group LLC grew its position in shares of Zoetis by 201.5% during the 2nd quarter. REAP Financial Group LLC now owns 196 shares of the company’s stock worth $31,000 after buying an additional 131 shares in the last quarter. Finally, NewSquare Capital LLC increased its stake in shares of Zoetis by 69.1% during the second quarter. NewSquare Capital LLC now owns 208 shares of the company’s stock valued at $32,000 after buying an additional 85 shares during the period. Institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ZTS shares. Stifel Nicolaus dropped their target price on shares of Zoetis from $140.00 to $130.00 and set a “hold” rating on the stock in a report on Tuesday, November 18th. KeyCorp started coverage on shares of Zoetis in a research report on Thursday, November 20th. They issued a “sector weight” rating for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Zoetis in a report on Wednesday, October 8th. 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, JPMorgan Chase & Co. dropped their target price on Zoetis from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Zoetis has an average rating of “Hold” and an average price target of $160.18.

Zoetis Trading Up 0.4%

Zoetis stock opened at $122.77 on Friday. The stock has a 50-day moving average price of $129.24 and a 200 day moving average price of $144.98. The company has a market capitalization of $54.10 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 2.66 and a beta of 0.97. Zoetis Inc. has a 52 week low of $115.25 and a 52 week high of $177.40. The company has a quick ratio of 2.28, a current ratio of 3.64 and a debt-to-equity ratio of 1.31.

Zoetis (NYSE:ZTS) last issued its quarterly 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. Zoetis had a net margin of 28.21% and a return on equity of 57.19%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the company earned $1.58 EPS. Zoetis’s quarterly revenue was up .5% on a year-over-year basis. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, January 20th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. This is an increase from Zoetis’s previous quarterly dividend of $0.50. Zoetis’s dividend payout ratio (DPR) is presently 35.69%.

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.