Impax Asset Management Reduces Stake in Zoetis Inc.

Impax Asset Management Group plc has reduced its investment in Zoetis Inc. (NYSE:ZTS - Free Report) by 7.5% during the third quarter. According to the company's latest 13F filing with the Securities and Exchange Commission, the firm now holds 67,782 shares in Zoetis after selling 5,488 shares during this period. The value of Impax's holdings in Zoetis is approximately $13.24 million based on the most recent filing.

Changes in Holdings by Other Investors

Other hedge funds have also adjusted their investments in Zoetis. Quarry LP significantly increased its stake by 273.2% during the second quarter, now owning 209 shares valued at $36,000 after acquiring 153 additional shares. Similarly, Fortitude Family Office LLC raised its stake by 1,387.5% in the third quarter, resulting in ownership of 238 shares worth $46,000 after purchasing an extra 222 shares. Additionally, LRI Investments LLC made a new investment in Zoetis valued at $43,000 during the first quarter, while Central Valley Advisors LLC added to its position in the second quarter with a stake worth about $49,000. Future Financial Wealth Management LLC also acquired shares in Zoetis in the third quarter, valued at around $59,000. Overall, institutional investors control approximately 92.80% of the company’s stock.

Current Performance of Zoetis Stock

As of Wednesday, Zoetis shares opened at $175.27. The company has recorded a 52-week low of $144.80 and a high of $201.92. Its financial metrics include a debt-to-equity ratio of 1.32, a quick ratio of 2.09, and a current ratio of 3.45. The 50-day simple moving average stands at $188.71, with the 200-day average at $179.23. The market capitalization of Zoetis is $79.41 billion, with a PE ratio of 32.95 and a P/E/G ratio of 2.68.

Recent Earnings Report

Zoetis recently released its earnings results on November 4th, reporting earnings of $1.58 per share for the quarter, which surpassed analysts' expectations of $1.46 by $0.12. The company enjoyed a net margin of 26.55% and a return on equity of 52.59%. Revenue for the quarter reached $2.40 billion, exceeding the consensus estimate of $2.29 billion, marking an 11.6% increase compared to the same quarter last year.

Dividends and Payout Information

The company has announced a quarterly dividend of $0.432 per share, scheduled to be paid on December 3rd, with the ex-dividend date being October 31st. This translates to an annualized dividend of $1.73 and a yield of approximately 0.99%. Currently, Zoetis's payout ratio stands at 32.52%.

Analysts' Opinions on Zoetis

A number of analysts recently issued reports on Zoetis. Stifel Nicolaus increased their price target for the stock from $200.00 to $210.00, categorizing it as a "buy". Argus also upgraded Zoetis to a "strong buy" rating. Notably, JPMorgan Chase & Co. raised their price target from $225.00 to $230.00, while BTIG Research set its target from $220.00 to $225.00. Piper Sandler also lifted its price target on Zoetis from $195.00 to $210.00. As it stands, ten investment analysts have rated the stock as a "buy" and one as a "strong buy", with the average rating being "Buy" and a consensus target price of $221.44.

Overview of Zoetis Inc.

Zoetis Inc. focuses on the discovery, development, manufacturing, and commercialization of animal health medication, vaccines, and diagnostic products and services both in the United States and globally. The company’s products cater mainly to various species including livestock such as cattle and swine, as well as companion animals like dogs and cats.

Impax, Zoetis, Investment