Cidel Asset Management Inc. Raises Stake in Zoetis Inc. $ZTS

Cidel Asset Management Inc. raised its position in Zoetis Inc. (NYSE:ZTS) by 2.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,049 shares of the company’s stock after acquiring an additional 2,735 shares during the quarter. Zoetis makes up about 1.1% of Cidel Asset Management Inc.’s holdings, making the stock its 28th biggest holding. Cidel Asset Management Inc.’s holdings in Zoetis were worth $18,566,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nova Wealth Management Inc. purchased a new stake in shares of Zoetis during the 1st quarter worth approximately $25,000. 1248 Management LLC purchased a new stake in shares of Zoetis during the 1st quarter worth approximately $27,000. Saudi Central Bank purchased a new stake in shares of Zoetis during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its position in shares of Zoetis by 79.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Finally, REAP Financial Group LLC lifted its position in shares of Zoetis by 201.5% during the 2nd quarter. REAP Financial Group LLC now owns 196 shares of the company’s stock worth $31,000 after buying an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 0.6%

Shares of Zoetis stock opened at $144.15 on Friday. Zoetis Inc. has a 1 year low of $139.34 and a 1 year high of $193.49. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. The company has a market capitalization of $63.88 billion, a P/E ratio of 24.81, a PEG ratio of 2.32 and a beta of 0.90. The company’s fifty day moving average is $148.73 and its two-hundred day moving average is $153.69.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data 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. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. Zoetis’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.56 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZTS. Piper Sandler boosted their price objective 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 restated a “hold (c-)” rating on shares of Zoetis in a research report on Wednesday, October 8th. Leerink Partnrs downgraded shares of Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Leerink Partners downgraded shares of Zoetis from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, Argus reissued a “buy” rating and set a $190.00 price objective on shares of Zoetis in a research report on Tuesday, September 9th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $196.71.

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.