Cullen Frost Bankers Inc. Cuts Stock Position in Zoetis Inc. (NYSE:ZTS)

Cullen Frost Bankers Inc. trimmed its holdings in Zoetis Inc. (NYSE:ZTS) by 63.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,582 shares of the company’s stock after selling 96,424 shares during the period. Cullen Frost Bankers Inc.’s holdings in Zoetis were worth $9,809,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Private Wealth Management Group LLC bought a new stake in Zoetis during the 4th quarter valued at approximately $33,000. Webster Bank N. A. grew its holdings in Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after buying an additional 82 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Zoetis during the fourth quarter valued at approximately $40,000. LRI Investments LLC purchased a new position in shares of Zoetis in the first quarter worth $43,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Zoetis during the fourth quarter worth $51,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 1.4 %

ZTS opened at $189.23 on Friday. The firm has a market cap of $85.73 billion, a P/E ratio of 36.46, a P/E/G ratio of 2.87 and a beta of 0.88. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The stock has a 50-day moving average of $181.22 and a 200 day moving average of $174.49. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the firm earned $1.41 earnings per share. Zoetis’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts forecast that Zoetis Inc. will post 5.84 EPS for the current year.

Analyst Upgrades and Downgrades

ZTS has been the topic of a number of research reports. Piper Sandler lifted their price target on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. BTIG Research lifted their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus restated a “buy” rating and set a $200.00 price target on shares of Zoetis in a report on Tuesday, August 27th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $217.11.

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.