Harvey Investment Co. LLC Acquires 5,810 Shares of Zoetis Inc. $ZTS

Harvey Investment Co. LLC lifted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 15.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,623 shares of the company’s stock after purchasing an additional 5,810 shares during the period. Harvey Investment Co. LLC’s holdings in Zoetis were worth $6,237,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Zoetis during the 2nd quarter worth approximately $809,491,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Zoetis by 113.0% during 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 acquiring an additional 1,995,491 shares during the period. Corient Private Wealth LLC increased its holdings in Zoetis by 85.9% in the 2nd quarter. Corient Private Wealth LLC now owns 2,578,593 shares of the company’s stock worth $400,619,000 after acquiring an additional 1,191,840 shares during the last quarter. Impax Asset Management Group plc raised its position 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 valued at $182,705,000 after purchasing an additional 922,589 shares during the period. Finally, Swedbank AB lifted its stake in shares of Zoetis by 60.4% during the 3rd quarter. Swedbank AB now owns 2,436,888 shares of the company’s stock valued at $356,565,000 after buying an additional 917,598 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

ZTS has been the subject of a number of recent research reports. Stifel Nicolaus reduced their price objective on shares of Zoetis from $140.00 to $130.00 and set a “hold” rating for the company in a research note on Tuesday, November 18th. The Goldman Sachs Group upgraded Zoetis to a “buy” rating in a research report on Monday, December 15th. KeyCorp began coverage on Zoetis in a report on Thursday, November 20th. They set a “sector weight” rating on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Zoetis in a research report on Monday, December 29th. Finally, Barclays assumed coverage on shares of Zoetis in a research note on Monday, December 8th. They issued an “equal weight” rating and a $136.00 target price on the stock. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $160.18.

Zoetis Stock Down 0.0%

ZTS opened at $125.77 on Monday. The business’s fifty day simple moving average is $125.02 and its 200 day simple moving average is $141.51. 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 stock has a market cap of $55.43 billion, a PE ratio of 21.17, a P/E/G ratio of 2.57 and a beta of 0.97.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.08. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Zoetis had a return on equity of 57.19% and a net margin of 28.21%.The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.58 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, January 20th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, January 20th. This is an increase from Zoetis’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a yield of 1.7%. Zoetis’s dividend payout ratio (DPR) is 33.67%.

Zoetis 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.