Eastern Bank Sells 8,487 Shares of Zoetis Inc. $ZTS

Eastern Bank decreased its position in Zoetis Inc. (NYSE:ZTS) by 26.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 24,173 shares of the company’s stock after selling 8,487 shares during the quarter. Eastern Bank’s holdings in Zoetis were worth $3,770,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ZTS. Brighton Jones LLC raised its stake in shares of Zoetis by 180.4% during the 4th quarter. Brighton Jones LLC now owns 4,629 shares of the company’s stock worth $754,000 after purchasing an additional 2,978 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Zoetis by 11.1% during the 1st quarter. Farther Finance Advisors LLC now owns 4,738 shares of the company’s stock worth $767,000 after purchasing an additional 474 shares in the last quarter. Simplicity Wealth LLC raised its stake in shares of Zoetis by 16.2% during the 1st quarter. Simplicity Wealth LLC now owns 1,709 shares of the company’s stock worth $281,000 after purchasing an additional 238 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Zoetis by 61.8% during the 1st quarter. SG Americas Securities LLC now owns 20,782 shares of the company’s stock worth $3,422,000 after purchasing an additional 7,940 shares in the last quarter. Finally, Simon Quick Advisors LLC raised its stake in shares of Zoetis by 60.3% during the 1st quarter. Simon Quick Advisors LLC now owns 4,835 shares of the company’s stock worth $796,000 after purchasing an additional 1,818 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 1.6%

ZTS opened at $141.05 on Friday. Zoetis Inc. has a 1-year low of $139.34 and a 1-year high of $196.55. The stock’s fifty day simple moving average is $149.24 and its 200 day simple moving average is $154.46. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. The stock has a market cap of $62.51 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 2.30 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 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 business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the business earned $1.56 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. 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 year.

Zoetis Dividend Announcement

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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, October 31st. Zoetis’s dividend payout ratio is currently 34.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ZTS shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Zoetis in a research note on Wednesday. Leerink Partners cut Zoetis from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Stifel Nicolaus cut Zoetis from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Piper Sandler increased their price target on Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, August 11th. Finally, Leerink Partnrs cut Zoetis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.