Bank of New York Mellon Corp Lowers Position in Zoetis Inc. $ZTS

Bank of New York Mellon Corp decreased its stake in shares of Zoetis Inc. (NYSE:ZTS) by 24.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,720,914 shares of the company’s stock after selling 1,196,514 shares during the quarter. Bank of New York Mellon Corp’s holdings in Zoetis were worth $544,444,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in ZTS. Halbert Hargrove Global Advisors LLC raised its position in shares of Zoetis by 496.6% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 173 shares of the company’s stock worth $25,000 after buying an additional 144 shares during the period. REAP Financial Group LLC increased its stake in Zoetis by 201.5% during the second quarter. REAP Financial Group LLC now owns 196 shares of the company’s stock worth $31,000 after acquiring an additional 131 shares during the last quarter. NewSquare Capital LLC raised its holdings in shares of Zoetis by 69.1% in the 2nd quarter. NewSquare Capital LLC now owns 208 shares of the company’s stock worth $32,000 after purchasing an additional 85 shares during the period. ORG Partners LLC lifted its stake in shares of Zoetis by 56.8% in the 2nd quarter. ORG Partners LLC now owns 232 shares of the company’s stock valued at $37,000 after purchasing an additional 84 shares in the last quarter. Finally, Financial Consulate Inc. acquired a new position in shares of Zoetis in the 3rd quarter valued at about $39,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on ZTS. HSBC set a $140.00 price target on shares of Zoetis in a report on Wednesday, December 10th. Barclays initiated coverage on shares of Zoetis in a report on Monday, December 8th. They set an “equal weight” rating and a $136.00 target price on the stock. Morgan Stanley set a $160.00 price target on shares of Zoetis in a research report on Thursday, December 18th. BTIG Research reissued a “buy” rating and issued a $160.00 price objective on shares of Zoetis in a research report on Wednesday, December 3rd. Finally, Stifel Nicolaus decreased 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. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $152.91.

Zoetis Stock Down 2.4%

Shares of NYSE ZTS opened at $121.95 on Thursday. The firm has a market cap of $53.74 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 2.17 and a beta of 0.97. Zoetis Inc. has a 1 year low of $115.25 and a 1 year high of $177.40. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.28 and a current ratio of 3.64. The stock’s 50-day simple moving average is $123.91 and its 200-day simple moving average is $137.58.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data 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. Zoetis had a return on equity of 57.19% and a net margin of 28.21%.The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the firm earned $1.58 EPS. Zoetis’s quarterly revenue was up .5% on a year-over-year basis. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, January 20th will be issued a $0.53 dividend. This is a boost from Zoetis’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, January 20th. Zoetis’s dividend payout ratio is currently 35.69%.

About Zoetis

Zoetis Inc (NYSE: ZTS) is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company’s offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.