Harvest Portfolios Group Inc. Raises Stock Holdings in Zoetis Inc. $ZTS

Harvest Portfolios Group Inc. increased its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 8.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 363,253 shares of the company’s stock after buying an additional 27,115 shares during the period. Zoetis comprises approximately 1.3% of Harvest Portfolios Group Inc.’s investment portfolio, making the stock its 25th largest holding. Harvest Portfolios Group Inc. owned approximately 0.08% of Zoetis worth $56,649,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new position in Zoetis during the first quarter worth $25,000. 1248 Management LLC acquired a new position in shares of Zoetis during the 1st quarter worth about $27,000. Saudi Central Bank purchased a new position in Zoetis in the 1st quarter valued at about $29,000. REAP Financial Group LLC lifted its stake in Zoetis by 201.5% in the 2nd quarter. REAP Financial Group LLC now owns 196 shares of the company’s stock valued at $31,000 after buying an additional 131 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in Zoetis by 79.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group decreased their target price on Zoetis from $158.00 to $141.00 and set a “neutral” rating on the stock in a research report on Wednesday. Argus restated a “buy” rating and issued a $190.00 price objective on shares of Zoetis in a report on Tuesday, September 9th. Leerink Partnrs cut shares of 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 report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Zoetis from $230.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $191.00.

Zoetis Stock Down 0.6%

Shares of NYSE:ZTS opened at $119.81 on Friday. Zoetis Inc. has a 52-week low of $119.06 and a 52-week high of $181.85. The stock has a market cap of $53.10 billion, a P/E ratio of 20.62, a PEG ratio of 2.31 and a beta of 0.90. The business has a fifty day moving average of $144.93 and a two-hundred day moving average of $152.78. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.08. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the company posted $1.58 EPS. The company’s revenue was up .5% compared to the same quarter last year. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Friday, October 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, October 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.7%. Zoetis’s dividend payout ratio (DPR) is currently 33.67%.

Zoetis Profile

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.