Cresset Asset Management LLC Sells 679 Shares of Zoetis Inc. (NYSE:ZTS)

Cresset Asset Management LLC trimmed its position in Zoetis Inc. (NYSE:ZTSGet Rating) by 4.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,757 shares of the company’s stock after selling 679 shares during the period. Cresset Asset Management LLC’s holdings in Zoetis were worth $2,783,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Zoetis by 430.8% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 138 shares of the company’s stock valued at $26,000 after acquiring an additional 112 shares during the period. Worth Asset Management LLC bought a new position in shares of Zoetis during the 1st quarter valued at approximately $26,000. Financial Management Professionals Inc. grew its position in shares of Zoetis by 117.4% during the 1st quarter. Financial Management Professionals Inc. now owns 150 shares of the company’s stock valued at $28,000 after acquiring an additional 81 shares during the period. Hanson & Doremus Investment Management grew its position in shares of Zoetis by 713.6% during the 1st quarter. Hanson & Doremus Investment Management now owns 179 shares of the company’s stock valued at $34,000 after acquiring an additional 157 shares during the period. Finally, City State Bank bought a new position in shares of Zoetis during the 4th quarter valued at approximately $36,000. 91.05% of the stock is owned by institutional investors.

Zoetis Stock Performance

NYSE ZTS opened at $164.31 on Monday. Zoetis Inc. has a 1 year low of $154.18 and a 1 year high of $249.27. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.18 and a quick ratio of 1.46. The stock has a market capitalization of $76.92 billion, a PE ratio of 37.26, a P/E/G ratio of 2.87 and a beta of 0.77. The company’s 50 day simple moving average is $170.78 and its two-hundred day simple moving average is $175.58.

Zoetis (NYSE:ZTSGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.02). Zoetis had a return on equity of 49.03% and a net margin of 26.14%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the company earned $1.19 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts predict that Zoetis Inc. will post 5.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. StockNews.com raised shares of Zoetis from a “buy” rating to a “strong-buy” rating in a research report on Friday. Piper Sandler initiated coverage on shares of Zoetis in a research note on Monday, July 11th. They set an “overweight” rating and a $205.00 price target on the stock. The Goldman Sachs Group dropped their price target on shares of Zoetis from $208.00 to $202.00 and set a “buy” rating on the stock in a research note on Thursday, July 21st. Stifel Nicolaus dropped their price target on shares of Zoetis from $275.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, June 24th. Finally, William Blair restated an “outperform” rating on shares of Zoetis in a research note on Friday, August 5th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $224.00.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 2,167 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $180.26, for a total value of $390,623.42. Following the sale, the executive vice president now directly owns 23,687 shares in the company, valued at approximately $4,269,818.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Roxanne Lagano sold 2,167 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $180.26, for a total transaction of $390,623.42. Following the sale, the executive vice president now owns 23,687 shares in the company, valued at approximately $4,269,818.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kristin C. Peck sold 311 shares of the firm’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $180.00, for a total transaction of $55,980.00. Following the sale, the chief executive officer now owns 39,743 shares in the company, valued at approximately $7,153,740. The disclosure for this sale can be found here. Insiders have sold 16,501 shares of company stock worth $2,949,073 in the last three months. 0.12% of the stock is currently owned by corporate insiders.

About Zoetis

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Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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