1832 Asset Management L.P. Trims Stake in Zoetis Inc. (NYSE:ZTS)

1832 Asset Management L.P. cut its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 67.6% in the second quarter, HoldingsChannel.com reports. The firm owned 19,897 shares of the company’s stock after selling 41,575 shares during the quarter. 1832 Asset Management L.P.’s holdings in Zoetis were worth $3,449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Webster Bank N. A. raised its stake in shares of Zoetis by 89.1% in the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the period. Neo Ivy Capital Management acquired a new position in Zoetis during the fourth quarter worth $40,000. LRI Investments LLC purchased a new position in shares of Zoetis during the first quarter worth $43,000. Hazlett Burt & Watson Inc. grew its stake in shares of Zoetis by 60.7% in the first quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock valued at $46,000 after buying an additional 102 shares in the last quarter. Finally, Central Valley Advisors LLC purchased a new stake in shares of Zoetis in the 2nd quarter valued at $49,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Performance

Shares of ZTS stock opened at $193.68 on Wednesday. The stock’s 50-day moving average is $185.22 and its two-hundred day moving average is $174.50. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The firm has a market cap of $87.75 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.97 and a beta of 0.88.

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

Analyst Ratings Changes

A number of brokerages recently commented on ZTS. BTIG Research raised their target price on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus upped their target price on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Piper Sandler increased their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zoetis presently has an average rating of “Buy” and a consensus price target of $220.38.

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.