Turtle Creek Wealth Advisors LLC Trims Holdings in Zoetis Inc. $ZTS

Turtle Creek Wealth Advisors LLC decreased its position in shares of Zoetis Inc. (NYSE:ZTS) by 81.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,674 shares of the company’s stock after selling 29,975 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Zoetis were worth $977,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Zoetis by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 41,886,987 shares of the company’s stock valued at $6,532,276,000 after purchasing an additional 330,823 shares during the period. Geode Capital Management LLC boosted its holdings in Zoetis by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 11,081,301 shares of the company’s stock worth $1,721,356,000 after buying an additional 95,294 shares during the period. Norges Bank purchased a new stake in Zoetis in the 2nd quarter worth $809,491,000. Brown Advisory Inc. increased its stake in Zoetis by 5.7% in the 2nd quarter. Brown Advisory Inc. now owns 4,659,371 shares of the company’s stock worth $726,629,000 after buying an additional 250,829 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Zoetis by 113.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,761,920 shares of the company’s stock valued at $586,671,000 after acquiring an additional 1,995,491 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ZTS shares. JPMorgan Chase & Co. dropped their price objective on Zoetis from $230.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. KeyCorp started coverage on Zoetis in a research note on Thursday, November 20th. They issued a “sector weight” rating for the company. Weiss Ratings raised shares of Zoetis from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. Morgan Stanley set a $160.00 target price on shares of Zoetis in a report on Thursday, December 18th. Finally, UBS Group cut their target price on shares of Zoetis from $158.00 to $141.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Zoetis presently has a consensus rating of “Hold” and a consensus target price of $160.18.

Zoetis Price Performance

Zoetis stock opened at $123.24 on Wednesday. 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 firm’s fifty day moving average is $123.37 and its 200 day moving average is $138.85. The company has a market cap of $54.31 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 2.53 and a beta of 0.97.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.08. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Zoetis had a net margin of 28.21% and a return on equity of 57.19%. The business’s revenue was up .5% on a year-over-year basis. During the same period last year, the company posted $1.58 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, January 20th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This is an increase from Zoetis’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 1.7%. Zoetis’s payout ratio is presently 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.