Impax Asset Management Group Reduces Stake in Zoetis Inc.

Impax Asset Management Group plc has decreased its investment in Zoetis Inc. (NYSE:ZTS) by 7.5% during the third quarter, as stated in its latest 13F filing with the Securities and Exchange Commission. After selling 5,488 shares during this period, the firm now holds a total of 67,782 shares of Zoetis. According to the recent filing, the value of Impax's holdings in the company stands at approximately $13.24 million.

Changes in Shareholder Composition

In addition to Impax, several other hedge funds have adjusted their positions in Zoetis recently. For example, Quarry LP increased its stake in the company by a remarkable 273.2% in the second quarter, acquiring a total of 209 shares valued at about $36,000 after adding 153 shares last quarter. Fortitude Family Office LLC displayed an even more significant increase of 1,387.5% in the third quarter, bringing its total holdings to 238 shares, equivalent to $46,000 after purchasing an additional 222 shares. Other investors, like LRI Investments LLC and Central Valley Advisors LLC, have also entered the Zoetis market, with new stakes valued at $43,000 and $49,000, respectively. Currently, institutional investors control about 92.80% of Zoetis' stock.

Recent Performance of Zoetis Stock

On Wednesday, Zoetis stocks opened at $175.27. Over the past year, the stock reached a low of $144.80 and a high of $201.92. The company's financial metrics include a debt-to-equity ratio of 1.32, a quick ratio of 2.09, and a current ratio of 3.45. As for its moving averages, the 50-day simple moving average stands at $188.71 while the 200-day is at $179.23. Zoetis boasts a market capitalization of $79.41 billion, a price-to-earnings ratio of 32.95, and a price-to-earnings-to-growth ratio of 2.68.

Quarterly Earnings Report

Recently, Zoetis announced its earnings results for the quarter ending November 4th. The company reported earnings of $1.58 per share, surpassing the analysts' consensus estimate of $1.46 by $0.12. The firm achieved a net margin of 26.55% and a return on equity of 52.59%. Revenue for the quarter amounted to $2.40 billion, exceeding the expectation of $2.29 billion, and marking an increase of 11.6% from the same quarter the previous year. Analysts predict that Zoetis Inc. will report earnings of approximately $5.91 per share for the current fiscal year.

Dividend Information

The company has also recently declared a quarterly dividend, which is set to be distributed on Tuesday, December 3rd. Shareholders on record as of Thursday, October 31st, will receive a dividend payment of $0.432 per share, resulting in an annualized dividend of $1.73 and a yield of 0.99%. Currently, Zoetis maintains a payout ratio of 32.52%.

Analyst Ratings and Price Targets

Zoetis has garnered attention from several analysts in recent reports. For instance, Stifel Nicolaus raised its price target on the stock from $200 to $210 and issued a "buy" rating. Similarly, Argus upgraded Zoetis to a "strong-buy" rating. Other major investment firms, like JPMorgan Chase & Co. and BTIG Research, have also adjusted their price targets upward, reflecting strong interest and confidence in Zoetis's potential. The average rating among analysts for Zoetis currently stands at "Buy" with a consensus target price of $221.44.

Overview of Zoetis

Zoetis Inc. is engaged in the discovery, development, manufacture, and commercialization of health products for animals. The company offers a variety of medicines, vaccines, and diagnostic services in both the United States and internationally, serving a broad range of species including livestock and companion animals.

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