Connor Clark & Lunn Investment Management Ltd. Invests $29.30 Million in Zoetis Inc. $ZTS

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Zoetis Inc. (NYSE:ZTS) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 187,875 shares of the company’s stock, valued at approximately $29,299,000.

Other hedge funds also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new position in shares of Zoetis in the first quarter worth $25,000. 1248 Management LLC purchased a new position in Zoetis in the first quarter valued at $27,000. Saudi Central Bank acquired a new position in Zoetis during the 1st quarter worth $29,000. REAP Financial Group LLC increased its holdings in Zoetis by 201.5% during the 2nd quarter. REAP Financial Group LLC now owns 196 shares of the company’s stock worth $31,000 after purchasing an additional 131 shares during the period. Finally, NewSquare Capital LLC raised its position in Zoetis by 69.1% in the 2nd quarter. NewSquare Capital LLC now owns 208 shares of the company’s stock valued at $32,000 after purchasing an additional 85 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Up 0.5%

ZTS opened at $120.20 on Monday. The business’s 50-day simple moving average is $144.21 and its 200-day simple moving average is $152.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. Zoetis Inc. has a one year low of $117.26 and a one year high of $181.85. The stock has a market capitalization of $52.97 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 2.31 and a beta of 0.90.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, November 4th. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.08. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The business’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.7%. Zoetis’s dividend payout ratio is 33.67%.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of analyst reports. Leerink Partnrs downgraded Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. UBS Group lowered their price target on shares of Zoetis from $158.00 to $141.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. JPMorgan Chase & Co. reduced their price objective on shares of Zoetis from $230.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Leerink Partners cut shares of Zoetis from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, Stifel Nicolaus set a $140.00 target price on Zoetis in a report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.00.

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.