CIBC Asset Management Inc Has $36.75 Million Stock Position in Zoetis Inc. $ZTS

CIBC Asset Management Inc lifted its position in Zoetis Inc. (NYSE:ZTS) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 251,495 shares of the company’s stock after buying an additional 10,434 shares during the period. CIBC Asset Management Inc owned about 0.06% of Zoetis worth $36,745,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Zoetis by 180.4% in the 4th quarter. Brighton Jones LLC now owns 4,629 shares of the company’s stock valued at $754,000 after purchasing an additional 2,978 shares during the period. Empowered Funds LLC lifted its stake in Zoetis by 6.2% in the first quarter. Empowered Funds LLC now owns 11,293 shares of the company’s stock valued at $1,859,000 after buying an additional 657 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Zoetis by 17.2% in the first quarter. Intech Investment Management LLC now owns 8,347 shares of the company’s stock valued at $1,374,000 after buying an additional 1,224 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Zoetis by 73.8% in the second quarter. Sivia Capital Partners LLC now owns 3,348 shares of the company’s stock valued at $522,000 after buying an additional 1,422 shares during the period. Finally, Patton Fund Management Inc. bought a new stake in shares of Zoetis during the second quarter worth $224,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ZTS. Bank of America cut shares of Zoetis from a “buy” rating to a “neutral” rating and set a $135.00 price objective on the stock. in a research report on Monday, December 15th. Piper Sandler reissued a “neutral” rating and issued a $135.00 price target (down previously from $190.00) on shares of Zoetis in a research note on Thursday. Weiss Ratings upgraded Zoetis from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. Wall Street Zen upgraded Zoetis from a “hold” rating to a “buy” rating in a report on Friday. Finally, Morgan Stanley set a $160.00 target price on Zoetis in a research report on Thursday, December 18th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Zoetis presently has a consensus rating of “Hold” and a consensus target price of $152.91.

Zoetis Stock Performance

ZTS opened at $124.04 on Monday. The business’s 50-day simple moving average is $123.58 and its 200 day simple moving average is $138.15. Zoetis Inc. has a 52-week low of $115.25 and a 52-week high of $177.40. 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 firm has a market capitalization of $54.66 billion, a PE ratio of 20.88, a PEG ratio of 2.15 and a beta of 0.97.

Zoetis (NYSE:ZTS) last posted 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 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 quarter in the previous year, the firm earned $1.58 EPS. The business’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. As a group, sell-side analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal 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 issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, January 20th. This is a positive change from Zoetis’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a yield of 1.7%. Zoetis’s dividend payout ratio is presently 35.69%.

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.