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Zoetis Inc. saw stock rise, strong Q2 revenue, and a bigger dividend, despite pension fund reducing stake.
Zoetis Inc., an animal health company, saw a 17.6% rise in its stock price during the first quarter of 2022.
The State of New Jersey Common Pension Fund D reduced its stake by 9.3%, while Polen Capital Management LLC became the largest investor with over 8 million shares.
Zoetis reported a net income of $1.76 per share, exceeding analysts' expectations by $0.14, and also declared a $0.50 per share dividend.
The company's Q2 revenue grew 4.2% year-over-year to $2.46 billion, surpassing forecasts.
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Zoetis Inc. registró un aumento de las acciones, fuertes ingresos en el segundo trimestre y un mayor dividendo, a pesar de que el fondo de pensiones redujo la participación.