Bristlecone Advisors LLC Has $2.40 Million Holdings in Zoetis Inc. $ZTS

Bristlecone Advisors LLC reduced its holdings in Zoetis Inc. (NYSE:ZTS) by 3.4% during the 2nd quarter, Holdings Channel reports. The fund owned 15,362 shares of the company’s stock after selling 539 shares during the quarter. Bristlecone Advisors LLC’s holdings in Zoetis were worth $2,396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Nova Wealth Management Inc. acquired a new position in shares of Zoetis in the 1st quarter worth approximately $25,000. 1248 Management LLC acquired a new position in Zoetis during the 1st quarter worth $27,000. Saudi Central Bank bought a new position in Zoetis in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC boosted its position 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 buying an additional 88 shares during the last quarter. Finally, REAP Financial Group LLC boosted its position 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 buying an additional 131 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Performance

ZTS stock opened at $145.62 on Wednesday. The business’s fifty day moving average is $147.88 and its 200-day moving average is $153.51. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05. The company has a market cap of $64.53 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 2.37 and a beta of 0.90. Zoetis Inc. has a twelve month low of $139.34 and a twelve month high of $184.40.

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

Zoetis Dividend Announcement

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

Analyst Upgrades and Downgrades

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