Zoetis Inc. (NYSE:ZTS) Announces Dividend Increase - $0.53 Per Share
Zoetis Inc. (NYSE:ZTS) announced a 6.0% increase in its quarterly dividend to $0.53 per share, payable on March 3rd to shareholders of record on January 20th. The ex-dividend date is January 20th. This marks the 14th consecutive year of dividend increases. Zoetis has a payout ratio of 29.2% and is expected to earn $6.75 per share next year. The company's stock traded up $1.96 to $119.62 with a market cap of $52.72 billion.
Zoetis Inc. (NYSE:ZTS - Get Free Report) declared a quarterly dividend on Thursday, December 11th. Investors of record on Tuesday, January 20th will be given a dividend of 0.53 per share on Tuesday, March 3rd. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, January 20th. This is a 6.0% increase from Zoetis's previous quarterly dividend of $0.50.
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Zoetis has raised its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 14 years. Zoetis has a payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Zoetis to earn $6.75 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 29.6%.
Zoetis Price Performance
ZTS stock traded up $1.96 during midday trading on Friday, reaching $119.62. The stock had a trading volume of 1,732,586 shares, compared to its average volume of 3,299,270. Zoetis has a 52-week low of $115.25 and a 52-week high of $181.85. The company has a current ratio of 3.64, a quick ratio of 2.28 and a debt-to-equity ratio of 1.31. The company's fifty day simple moving average is $131.51 and its 200 day simple moving average is $146.53. The company has a market cap of $52.72 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.45 and a beta of 0.97.
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Zoetis (NYSE:ZTS - Get Free Report) last released its earnings results on Tuesday, November 4th. The company reported $1.70 earnings per share (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 analyst estimates of $2.42 billion. Zoetis had a net margin of 28.21% and a return on equity of 57.19%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.58 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, sell-side analysts predict that Zoetis will post 6.07 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Zoetis in the second quarter valued at $809,491,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Zoetis during the 3rd quarter worth $394,010,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Zoetis by 113.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,761,920 shares of the company's stock worth $586,671,000 after purchasing an additional 1,995,491 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Zoetis by 83.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,697,827 shares of the company's stock valued at $394,746,000 after buying an additional 1,227,085 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in Zoetis by 85.9% in the 2nd quarter. Corient Private Wealth LLC now owns 2,578,593 shares of the company's stock valued at $400,619,000 after buying an additional 1,191,840 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.
Zoetis Company Profile
(Get Free Report)- Rising Dividend Make Zoetis a Doggone Winner
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.
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