Kayne Anderson Rudnick Investment Management LLC Lowers Holdings in Zoetis Inc. (NYSE:ZTS)

Kayne Anderson Rudnick Investment Management LLC lowered its position in shares of Zoetis Inc. (NYSE:ZTS) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 623,061 shares of the company’s stock after selling 12,143 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.14% of Zoetis worth $108,014,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ZTS. Vanguard Group Inc. increased its holdings in shares of Zoetis by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock valued at $6,895,235,000 after acquiring an additional 414,605 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Zoetis by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock valued at $2,707,262,000 after purchasing an additional 3,244,074 shares in the last quarter. Capital World Investors grew its stake in Zoetis by 0.6% in the fourth quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock valued at $1,788,988,000 after purchasing an additional 57,798 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Zoetis by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock worth $812,695,000 after purchasing an additional 178,303 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Zoetis by 2.3% during the first quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock valued at $685,416,000 after buying an additional 90,330 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ZTS. Stifel Nicolaus boosted their price objective on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler upped their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. BTIG Research raised their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $220.38.

Zoetis Stock Down 0.3 %

Zoetis stock opened at $192.73 on Friday. The business’s 50-day simple moving average is $184.70 and its two-hundred day simple moving average is $174.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The company has a market cap of $87.94 billion, a PE ratio of 37.13, a PEG ratio of 2.98 and a beta of 0.88. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. Zoetis’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS. Equities analysts anticipate that Zoetis Inc. will post 5.84 EPS for the current year.

Zoetis Company 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.