Federated Hermes Inc. Has $54.22 Million Position in Zoetis Inc. $ZTS

Federated Hermes Inc. cut its stake in Zoetis Inc. (NYSE:ZTS) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,582 shares of the company’s stock after selling 28,590 shares during the period. Federated Hermes Inc. owned approximately 0.08% of Zoetis worth $54,224,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Zoetis during the second quarter worth about $809,491,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Zoetis by 113.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,761,920 shares of the company’s stock valued at $586,671,000 after buying an additional 1,995,491 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Zoetis by 85.9% during the 2nd quarter. Corient Private Wealth LLC now owns 2,578,593 shares of the company’s stock worth $400,619,000 after acquiring an additional 1,191,840 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of Zoetis by 362.6% during the 2nd quarter. Impax Asset Management Group plc now owns 1,176,996 shares of the company’s stock worth $182,705,000 after acquiring an additional 922,589 shares during the period. Finally, Swedbank AB boosted its position in shares of Zoetis by 60.4% during the 3rd quarter. Swedbank AB now owns 2,436,888 shares of the company’s stock worth $356,565,000 after acquiring an additional 917,598 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZTS has been the subject of several recent analyst reports. KeyCorp started coverage on Zoetis in a research note on Thursday, November 20th. They set a “sector weight” rating for the company. HSBC set a $140.00 price target on Zoetis in a research note on Wednesday, December 10th. Piper Sandler restated a “neutral” rating and set a $135.00 price objective (down from $190.00) on shares of Zoetis in a research report on Thursday, January 22nd. The Goldman Sachs Group upgraded Zoetis to a “buy” rating in a research report on Monday, December 15th. Finally, Weiss Ratings cut shares of Zoetis from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $152.45.

Zoetis Trading Down 0.2%

Shares of ZTS stock opened at $121.63 on Friday. Zoetis Inc. has a twelve month low of $115.25 and a twelve month high of $177.40. The stock’s fifty day simple moving average is $124.03 and its 200 day simple moving average is $137.47. The company has a quick ratio of 2.28, a current ratio of 3.64 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $53.60 billion, a P/E ratio of 20.48, a P/E/G ratio of 2.11 and a beta of 0.97.

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

Zoetis Increases Dividend

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

Zoetis Profile

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.