Bank of Nova Scotia Has $7.84 Million Position in Zoetis Inc. $ZTS

Bank of Nova Scotia lowered its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 72.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,253 shares of the company’s stock after selling 130,437 shares during the period. Bank of Nova Scotia’s holdings in Zoetis were worth $7,837,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ZTS. Brant Point Investment Management LLC lifted its stake in Zoetis by 5.7% in the 2nd quarter. Brant Point Investment Management LLC now owns 28,248 shares of the company’s stock valued at $4,405,000 after purchasing an additional 1,535 shares during the last quarter. Cary Street Partners Financial LLC increased its holdings in shares of Zoetis by 0.4% during the second quarter. Cary Street Partners Financial LLC now owns 99,006 shares of the company’s stock worth $15,440,000 after buying an additional 389 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Zoetis by 32.0% in the 2nd quarter. Cerity Partners LLC now owns 325,061 shares of the company’s stock valued at $50,693,000 after acquiring an additional 78,738 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Zoetis by 33.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 15,690 shares of the company’s stock valued at $2,447,000 after acquiring an additional 3,901 shares in the last quarter. Finally, Morton Community Bank grew its position in Zoetis by 9.2% during the 2nd quarter. Morton Community Bank now owns 19,154 shares of the company’s stock worth $2,987,000 after acquiring an additional 1,610 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ZTS. Argus reiterated a “buy” rating and issued a $190.00 target price on shares of Zoetis in a research report on Tuesday, September 9th. UBS Group dropped their price objective on shares of Zoetis from $158.00 to $141.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Barclays assumed coverage on shares of Zoetis in a research report on Monday. They set an “equal weight” rating and a $136.00 target price on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Zoetis in a research report on Wednesday, October 8th. Finally, KeyCorp initiated coverage on shares of Zoetis in a report on Thursday, November 20th. They set a “sector weight” rating on the stock. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Zoetis currently has a consensus rating of “Hold” and an average target price of $164.20.

Zoetis Stock Performance

Shares of ZTS opened at $118.01 on Thursday. The firm has a market capitalization of $52.00 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.40 and a beta of 0.97. Zoetis Inc. has a 52 week low of $115.25 and a 52 week high of $181.85. The stock has a 50 day moving average price of $132.09 and a two-hundred day moving average price of $146.73. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.28 and a current ratio of 3.64.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, November 4th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.08. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates 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 last year, the firm posted $1.58 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Equities analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

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

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.