Legal Advantage Investments Inc. Trims Stake in Zoetis Inc. $ZTS

Legal Advantage Investments Inc. reduced its position in shares of Zoetis Inc. (NYSE:ZTS) by 3.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,550 shares of the company’s stock after selling 200 shares during the period. Legal Advantage Investments Inc.’s holdings in Zoetis were worth $1,021,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ZTS. Sound Income Strategies LLC grew its position in Zoetis by 54.3% in the second quarter. Sound Income Strategies LLC now owns 432 shares of the company’s stock worth $67,000 after acquiring an additional 152 shares in the last quarter. Tandem Investment Advisors Inc. grew its position in Zoetis by 100.3% in the first quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company’s stock worth $65,140,000 after acquiring an additional 198,089 shares in the last quarter. Canoe Financial LP grew its position in Zoetis by 859.0% in the second quarter. Canoe Financial LP now owns 13,369 shares of the company’s stock worth $2,085,000 after acquiring an additional 11,975 shares in the last quarter. Soros Capital Management LLC grew its position in Zoetis by 32.0% in the first quarter. Soros Capital Management LLC now owns 17,441 shares of the company’s stock worth $2,872,000 after acquiring an additional 4,230 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its position in Zoetis by 31.2% in the first quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company’s stock worth $1,217,000 after acquiring an additional 1,760 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports 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. Piper Sandler upped their target price on shares of Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Zoetis in a research report on Wednesday. Leerink Partnrs lowered shares of Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Finally, Leerink Partners lowered shares of Zoetis from an “outperform” rating to a “market perform” rating and cut their price target for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $196.71.

Zoetis Stock Performance

NYSE ZTS opened at $141.05 on Friday. The company has a 50-day simple moving average of $149.24 and a two-hundred day simple moving average of $154.41. 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 Inc. has a 12-month low of $139.34 and a 12-month high of $196.55. The firm has a market cap of $62.51 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.26 and a beta of 0.90.

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

Zoetis Announces Dividend

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

Zoetis Profile

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.