Pinnacle Associates Ltd. Sells 2,373 Shares of Zoetis Inc. $ZTS

Pinnacle Associates Ltd. trimmed its position in Zoetis Inc. (NYSE:ZTS) by 11.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,062 shares of the company’s stock after selling 2,373 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Zoetis were worth $2,973,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Nova Wealth Management Inc. bought a new position in Zoetis in the 1st quarter valued at about $25,000. 1248 Management LLC bought a new position in Zoetis in the 1st quarter valued at about $27,000. Saudi Central Bank bought a new position in Zoetis in the 1st quarter valued at about $29,000. REAP Financial Group LLC raised its holdings in Zoetis by 201.5% in the 2nd quarter. REAP Financial Group LLC now owns 196 shares of the company’s stock valued at $31,000 after acquiring an additional 131 shares during the period. Finally, Cornerstone Planning Group LLC raised its holdings in Zoetis by 79.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock valued at $30,000 after acquiring an additional 88 shares during the period. 92.80% of the stock is owned by institutional investors.

Zoetis Stock Performance

Shares of NYSE:ZTS opened at $144.25 on Friday. The company’s 50 day moving average price is $147.15 and its two-hundred day moving average price is $153.39. Zoetis Inc. has a 12-month low of $139.34 and a 12-month high of $183.11. The firm has a market cap of $63.93 billion, a PE ratio of 24.83, a PEG ratio of 2.31 and a beta of 0.90. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.14. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the business posted $1.56 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, October 31st will be given a dividend of $0.50 per share. The ex-dividend date is Friday, October 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. Zoetis’s dividend payout ratio (DPR) is currently 34.42%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ZTS shares. Piper Sandler increased their price target on shares of Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, August 11th. UBS Group lowered their price target on shares of Zoetis from $165.00 to $158.00 and set a “neutral” rating on the stock in a report on Monday, October 20th. Argus reissued a “buy” rating and issued a $190.00 price target on shares of Zoetis in a report on Tuesday, September 9th. Leerink Partners lowered shares of Zoetis from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Zoetis in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $195.00.

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.