Federated Hermes Inc. Sells 28,590 Shares of Zoetis Inc. $ZTS

Federated Hermes Inc. trimmed its stake in shares of Zoetis Inc. (NYSE:ZTS) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,582 shares of the company’s stock after selling 28,590 shares during the quarter. Federated Hermes Inc.’s holdings in Zoetis were worth $54,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZTS. Norges Bank acquired a new stake in Zoetis during the 2nd quarter valued at approximately $809,491,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Zoetis by 113.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,761,920 shares of the company’s stock worth $586,671,000 after purchasing an additional 1,995,491 shares during the period. Corient Private Wealth LLC boosted its stake in shares of Zoetis by 85.9% in the 2nd quarter. Corient Private Wealth LLC now owns 2,578,593 shares of the company’s stock valued at $400,619,000 after purchasing an additional 1,191,840 shares during the last quarter. Impax Asset Management Group plc increased its position in shares of Zoetis by 362.6% during the second quarter. Impax Asset Management Group plc now owns 1,176,996 shares of the company’s stock worth $182,705,000 after buying an additional 922,589 shares during the period. Finally, Swedbank AB raised its stake in Zoetis by 60.4% during the third quarter. Swedbank AB now owns 2,436,888 shares of the company’s stock worth $356,565,000 after buying an additional 917,598 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Down 0.2%

ZTS stock opened at $121.63 on Friday. The stock’s 50 day simple moving average is $124.03 and its 200 day simple moving average is $137.47. The company has a market cap of $53.60 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 2.11 and a beta of 0.97. 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 Inc. has a fifty-two week low of $115.25 and a fifty-two week high of $177.40.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.70 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $2.42 billion. During the same quarter in the previous year, the company posted $1.58 earnings per share. The company’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. On average, research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, January 20th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, January 20th. This is a positive change from Zoetis’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 1.7%. Zoetis’s dividend payout ratio is currently 35.69%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ZTS shares. Barclays began coverage on shares of Zoetis in a research report on Monday, December 8th. They set an “equal weight” rating and a $136.00 price target on the stock. Wall Street Zen raised Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. UBS Group set a $136.00 target price on Zoetis in a research note on Thursday. Morgan Stanley set a $160.00 price target on Zoetis in a research note on Thursday, December 18th. Finally, The Goldman Sachs Group raised shares of Zoetis to a “buy” rating in a research report on Monday, December 15th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $152.45.

Zoetis Company Profile

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.