Federated Hermes Inc. Sells 68,430 Shares of Zoetis Inc. $ZTS

Federated Hermes Inc. reduced its holdings in Zoetis Inc. (NYSE:ZTS) by 14.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 399,172 shares of the company’s stock after selling 68,430 shares during the period. Federated Hermes Inc.’s holdings in Zoetis were worth $62,251,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Scott & Selber Inc. grew its stake in shares of Zoetis by 0.6% in the second quarter. Scott & Selber Inc. now owns 11,652 shares of the company’s stock worth $1,817,000 after acquiring an additional 67 shares during the last quarter. North Star Asset Management Inc. grew its position in Zoetis by 4.9% in the 2nd quarter. North Star Asset Management Inc. now owns 1,441 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the last quarter. Secure Asset Management LLC grew its position in Zoetis by 2.9% in the 2nd quarter. Secure Asset Management LLC now owns 2,448 shares of the company’s stock worth $382,000 after purchasing an additional 68 shares during the last quarter. Moment Partners LLC increased its holdings in shares of Zoetis by 3.2% during the 2nd quarter. Moment Partners LLC now owns 2,354 shares of the company’s stock worth $367,000 after purchasing an additional 72 shares during the period. Finally, CVA Family Office LLC increased its holdings in shares of Zoetis by 6.7% during the 2nd quarter. CVA Family Office LLC now owns 1,173 shares of the company’s stock worth $183,000 after purchasing an additional 74 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Price Performance

Zoetis stock opened at $118.69 on Monday. The business has a 50 day simple moving average of $133.77 and a 200 day simple moving average of $147.57. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.64 and a quick ratio of 2.28. The company has a market capitalization of $52.31 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.46 and a beta of 0.97. Zoetis Inc. has a one year low of $115.25 and a one year high of $181.85.

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 analysts’ consensus estimates of $1.62 by $0.08. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Zoetis had a return on equity of 57.19% and a net margin of 28.21%.The business’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, sell-side analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ZTS shares. KeyCorp initiated coverage on shares of Zoetis in a research note on Thursday, November 20th. They issued a “sector weight” rating for the company. BTIG Research reissued a “buy” rating and set a $160.00 price objective on shares of Zoetis in a report on Wednesday, December 3rd. Piper Sandler boosted their price objective on Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday, August 11th. Stifel Nicolaus reduced their target price on Zoetis from $140.00 to $130.00 and set a “hold” rating for the company in a research report on Tuesday, November 18th. Finally, Argus reiterated a “buy” rating and set a $190.00 price target on shares of Zoetis in a research note on Tuesday, September 9th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $178.89.

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.