The number of animal lovers has increased significantly in recent years. People are adopting pets for emotional well-being, companionship, and social bonding, driving the growth of the pet industry. Also, with increasing demand for advanced healthcare products and personalized grooming services, the market will grow further.Given the industry’s bright growth prospects, quality pet stocks Zoetis Inc. (ZTS), Chewy, Inc. (CHWY), and PetMed Express, Inc. (PETS) could be ideal additions to impressive profits.The growing number of animal lovers and pet parents and rising efforts towards animal protection and care are driving the pet industry’s market prospects. The pet market is developing rapidly with encouraging innovations that reflect shifting customer tastes and cultural changes.In recent years, there has been an impressive surge in pet ownership, as more and more people domesticate animals for companionship or enjoyment, propelling the pet market’s growth. This surge has also resulted in increased demands for high-quality pet foods, medicines, and online retail stores.Also, trends of humanizing pets are driving the market’s spending. People are willing to spend a substantial amount of money on pet care, grooming, and well-being. Spending growth in the pet industry is likely to reach 7% annually by 2030, which was projected at 2.5% for 2024 and 3.9% for 2025.The pet care market is expected to be valued at $20.86 billion in 2025 and is projected to grow to $25.63 billion by 2030, exhibiting growth at a CAGR of 4.2%. Market growth is attributable to factors like evolving consumer preferences, the humanization of pets, and innovations in pet products and services.Considering the industry’s bright prospects, it could be wise to invest in fundamentally strong pet stocks such as ZTS, CHWY, and PETS.Let’s discuss the fundamentals of these stocks in detail:Zoetis Inc. (ZTS)ZTS is in the international discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services. It commercializes products primarily across species, including livestock and companion animals.On December 12, 2024, ZTS’ Board of Directors declared a dividend of $0.50 per share for the first quarter of 2025, up 16% from the quarterly dividend rate paid in 2024. The dividend is payable on March 4, 2025, to all holders of record of its stock as of the close of business on January 21, 2025.ZTS pays an annual dividend of $2, which translates to a yield of 1.14% at the current share price. Its four-year average dividend yield is 0.74%. Moreover, the company’s dividend payouts have increased at a CAGR of 18.7% over the past three years. Zoetis has raised its dividends for six consecutive years.ZTS’ revenue increased 11% year-over-year to $2.39 billion during the third quarter that ended September 30, 2024. Its non-GAAP gross profit grew 11.4% from the year-ago value to $1.69 billion. Also, non-GAAP net income at
Ven. Feb 7th, 2025
