Gabelli Funds LLC Trims Stake in Zoetis Inc. (NYSE:ZTS)

Gabelli Funds LLC cut its position in Zoetis Inc. (NYSE:ZTS) by 62.9% in the second quarter, Holdings Channel reports. The firm owned 82,878 shares of the company’s stock after selling 140,739 shares during the period. Gabelli Funds LLC’s holdings in Zoetis were worth $14,368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Focus Financial Network Inc. ADV acquired a new stake in shares of Zoetis in the fourth quarter valued at approximately $2,159,000. Price T Rowe Associates Inc. MD raised its position in Zoetis by 31.0% in the 4th 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 during the last quarter. Axiom Investors LLC DE raised its position in Zoetis by 36.3% in the 4th quarter. Axiom Investors LLC DE now owns 594,474 shares of the company’s stock valued at $117,331,000 after purchasing an additional 158,459 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Zoetis during the 1st quarter worth $8,831,000. Finally, Franklin Street Advisors Inc. NC grew its position in Zoetis by 4.3% during the 1st quarter. Franklin Street Advisors Inc. NC now owns 121,024 shares of the company’s stock worth $20,478,000 after purchasing an additional 5,035 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

ZTS has been the subject of a number of research reports. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Stifel Nicolaus boosted their price target on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. BTIG Research increased 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, Piper Sandler boosted their target price on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Zoetis has an average rating of “Buy” and a consensus target price of $220.38.

Zoetis Price Performance

Shares of ZTS opened at $193.59 on Tuesday. 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’s 50 day moving average is $185.01 and its two-hundred day moving average is $174.42. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The firm has a market capitalization of $88.33 billion, a PE ratio of 37.30, a P/E/G ratio of 2.98 and a beta of 0.88.

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