Zoetis Inc. $ZTS Shares Purchased by Concord Wealth Partners

Concord Wealth Partners grew its position in shares of Zoetis Inc. (NYSE:ZTS) by 31.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 408 shares of the company’s stock after acquiring an additional 98 shares during the quarter. Concord Wealth Partners’ holdings in Zoetis were worth $64,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sound Income Strategies LLC increased its stake in Zoetis by 54.3% during the second quarter. Sound Income Strategies LLC now owns 432 shares of the company’s stock worth $67,000 after acquiring an additional 152 shares during the last quarter. Tandem Investment Advisors Inc. increased its stake in Zoetis by 100.3% during the first quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company’s stock worth $65,140,000 after acquiring an additional 198,089 shares during the last quarter. Canoe Financial LP increased its stake in Zoetis by 859.0% during the second quarter. Canoe Financial LP now owns 13,369 shares of the company’s stock worth $2,085,000 after acquiring an additional 11,975 shares during the last quarter. Strs Ohio acquired a new stake in Zoetis during the first quarter worth about $22,891,000. Finally, Soros Capital Management LLC increased its stake in Zoetis by 32.0% during the first quarter. Soros Capital Management LLC now owns 17,441 shares of the company’s stock worth $2,872,000 after acquiring an additional 4,230 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Trading Up 0.8%

Shares of ZTS opened at $142.29 on Tuesday. The company has a market capitalization of $63.06 billion, a P/E ratio of 24.49, a P/E/G ratio of 2.26 and a beta of 0.90. Zoetis Inc. has a one year low of $139.34 and a one year high of $196.55. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. The stock has a 50-day moving average price of $149.04 and a 200 day moving average price of $154.19.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.14. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.Zoetis’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, October 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, October 31st. Zoetis’s dividend payout ratio (DPR) is currently 34.42%.

Wall Street Analysts Forecast Growth

ZTS has been the subject of several research analyst reports. Leerink Partnrs lowered Zoetis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Zoetis in a research note on Wednesday, October 8th. Stifel Nicolaus lowered Zoetis from a “buy” rating to a “hold” rating and lowered their target price for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Leerink Partners lowered Zoetis from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. Finally, Piper Sandler increased their target price on Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, August 11th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Zoetis presently has a consensus rating of “Hold” and a consensus target price of $196.71.

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.