Ownership Capital B.V. Reduces Stake in Zoetis Inc.

Ownership Capital B.V. has decreased its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 4.7% during the third quarter, as indicated in its latest filing with the Securities and Exchange Commission (SEC). Following this change, the firm now holds 771,618 shares in Zoetis after selling 37,666 shares. This reduction positions Zoetis as approximately 4.8% of Ownership Capital B.V.’s investment portfolio, ranking it as the firm's 10th largest holding. As of the most recent SEC filing, their shares in Zoetis are valued at around $150,759,000, which accounts for about 0.17% of the company's total shares.

Other Stake Changes in Zoetis

Several other hedge funds have also made adjustments to their holdings in Zoetis recently. For instance, Mesirow Financial Investment Management Inc. increased its position in Zoetis by a substantial 105.5% during the third quarter, now totaling 82,298 shares worth $16,080,000. Atria Investments Inc. grew its stake by 1.7%, acquiring an additional 1,495 shares to now hold 91,868 shares valued at $17,949,000. Additionally, First Personal Financial Services entered the stock market with a new stake in Zoetis valued at $33,000. TCTC Holdings LLC raised its holdings by 2.8%, now owning 41,760 shares valued at $8,159,000 after purchasing an extra 1,153 shares. Bridges Investment Management Inc. also increased its stake by 1.0%, holding a total of 276,861 shares worth $54,093,000 after acquiring 2,780 more shares. It is noteworthy that institutional investors possess about 92.80% of Zoetis’s stock.

Performance of Zoetis Stock

As of the last trading session on Friday, the stock price of Zoetis (ZTS) opened at $176.82. The company has a total market capitalization of $79.77 billion, with a price-to-earnings ratio of 33.24 and a PEG ratio of 2.71. The stock's beta stands at 0.90. In terms of liquidity ratios, Zoetis has a quick ratio of 2.09, a current ratio of 3.69, and a debt-to-equity ratio of 1.26. Over the past year, the stock reached a low of $144.80 and a high of $201.92, with a fifty-day simple moving average recorded at $188.15 and a 200-day moving average at $179.35.

Zoetis Earnings Report

Zoetis released its earnings report on November 4th, revealing an earnings per share (EPS) of $1.58 for the quarter, exceeding analyst expectations of $1.46 by $0.12. The company achieved a return on equity of 51.98% and a net margin of 26.55%. Their revenue for the quarter was reported at $2.40 billion, surpassing analysts’ anticipations of $2.29 billion, which represents an 11.6% increase compared to the same quarter last year. Expectations for the upcoming year see Zoetis Inc. posting an EPS of 5.9.

Dividend Announcement from Zoetis

Recently, Zoetis announced a quarterly dividend set to be paid on December 3rd to shareholders recorded by October 31st. The dividend payment is $0.432 per share, which equates to an annualized dividend of $1.73, yielding about 0.98%. The ex-dividend date also fell on October 31st. The company maintains a dividend payout ratio of 32.33%.

Analysts Outlook for Zoetis

Numerous analysts have issued reports with favorable forecasts for Zoetis shares. For example, BTIG Research raised its price target from $220.00 to $225.00 with a “buy” rating. JPMorgan Chase & Co. also increased their price objective from $225.00 to $230.00 and gave the stock an “overweight” rating. Argus has upgraded their rating to a “strong-buy.” Stifel Nicolaus set a new price target at $210.00 with a “buy” rating, while Piper Sandler adjusted their target from $195.00 to $210.00. Ten analysts have rated Zoetis as a buy, with one giving it a strong buy rating. MarketBeat data indicates a consensus rating of “Buy” and an average price target of $221.44.

About Zoetis Inc.

Zoetis Inc. specializes in the discovery, development, manufacture, and marketing of animal health medicines, vaccines, and diagnostic products worldwide. The company offers various products aimed at different species, including livestock such as cattle and swine, as well as companion animals like dogs and cats.

Ownership, Stocks, Zoetis