Wallace Capital Management Inc. Grows Stake in Zoetis Inc. (NYSE:ZTS)

Wallace Capital Management Inc. grew its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,972 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Wallace Capital Management Inc.’s holdings in Zoetis were worth $689,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Webster Bank N. A. increased its holdings in shares of Zoetis by 89.1% in the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after buying an additional 82 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Zoetis in the fourth quarter worth $40,000. Quarry LP increased its stake in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after acquiring an additional 153 shares during the last quarter. LRI Investments LLC bought a new stake in Zoetis during the first quarter worth about $43,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of Zoetis during the 4th quarter valued at about $51,000. 92.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Zoetis Stock Down 0.0 %

Zoetis stock opened at $194.81 on Monday. The stock has a market cap of $88.26 billion, a PE ratio of 37.54, a price-to-earnings-growth ratio of 2.99 and a beta of 0.88. 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 stock has a fifty day moving average of $186.04 and a 200 day moving average of $174.78. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92.

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

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.