Truist Financial Corp Sells 13,527 Shares of Zoetis Inc. $ZTS

Truist Financial Corp reduced its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 9.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,794 shares of the company’s stock after selling 13,527 shares during the period. Truist Financial Corp’s holdings in Zoetis were worth $18,845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZTS. Norges Bank purchased a new position in Zoetis during the second quarter valued at $809,491,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Zoetis by 113.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,761,920 shares of the company’s stock worth $586,671,000 after buying an additional 1,995,491 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Zoetis by 85.9% in the second quarter. Corient Private Wealth LLC now owns 2,578,593 shares of the company’s stock worth $400,619,000 after buying an additional 1,191,840 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Zoetis by 362.6% in 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 in the last quarter. Finally, Swedbank AB increased its position in shares of Zoetis by 60.4% during the third quarter. Swedbank AB now owns 2,436,888 shares of the company’s stock valued at $356,565,000 after acquiring an additional 917,598 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the subject of a number of research analyst reports. KeyCorp started coverage on Zoetis in a report on Thursday, November 20th. They issued a “sector weight” rating for the company. Piper Sandler restated a “neutral” rating and set a $135.00 price objective (down previously from $190.00) on shares of Zoetis in a research report on Thursday, January 22nd. Barclays started coverage on shares of Zoetis in a research report on Monday, December 8th. They issued an “equal weight” rating and a $136.00 target price for the company. UBS Group set a $136.00 price target on Zoetis in a report on Thursday. Finally, HSBC set a $140.00 price objective on Zoetis in a research report on Wednesday, December 10th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $152.45.

Zoetis Price Performance

Shares of Zoetis stock opened at $124.79 on Friday. Zoetis Inc. has a 52 week low of $115.25 and a 52 week high of $177.40. The company has a quick ratio of 2.28, a current ratio of 3.64 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $54.99 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 2.10 and a beta of 0.97. The stock’s 50-day simple moving average is $124.08 and its 200-day simple moving average is $137.26.

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. 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 quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Increases Dividend

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

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.