King Luther Capital Management Corp Sells 36,366 Shares of Zoetis Inc. (NYSE:ZTS)

King Luther Capital Management Corp lessened its stake in Zoetis Inc. (NYSE:ZTS) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,789,031 shares of the company’s stock after selling 36,366 shares during the period. Zoetis accounts for approximately 1.4% of King Luther Capital Management Corp’s investment portfolio, making the stock its 17th largest holding. King Luther Capital Management Corp owned about 0.39% of Zoetis worth $310,146,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ZTS. Webster Bank N. A. boosted its holdings in Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Zoetis in the 4th quarter worth approximately $40,000. LRI Investments LLC purchased a new stake in Zoetis during the 1st quarter worth approximately $43,000. Ables Iannone Moore & Associates Inc. acquired a new position in Zoetis during the 4th quarter valued at approximately $51,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Zoetis by 60.7% in the first quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock worth $46,000 after buying an additional 102 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Zoetis Stock Down 1.6 %

Shares of NYSE:ZTS opened at $193.24 on Friday. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The stock has a market cap of $88.17 billion, a price-to-earnings ratio of 37.23, a price-to-earnings-growth ratio of 2.98 and a beta of 0.88. The firm’s 50 day moving average price is $184.42 and its 200 day moving average price is $174.44.

Zoetis (NYSE:ZTS) last posted its 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 firm 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 was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 earnings per share. As a group, equities research analysts predict that Zoetis Inc. will post 5.84 earnings per share for the current fiscal year.

About Zoetis

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.