Gerber Kawasaki Wealth & Investment Management Lowers Stock Position in Zoetis Inc. (NYSE:ZTS)

Gerber Kawasaki Wealth & Investment Management cut its position in shares of Zoetis Inc. (NYSE:ZTS) by 9.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,020 shares of the company’s stock after selling 1,788 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Zoetis were worth $2,833,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aspire Private Capital LLC purchased a new position in Zoetis during the first quarter valued at $15,019,213,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in Zoetis by 430.8% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 138 shares of the company’s stock valued at $26,000 after purchasing an additional 112 shares in the last quarter. VitalStone Financial LLC purchased a new position in Zoetis during the first quarter valued at $37,000. Evermay Wealth Management LLC lifted its holdings in Zoetis by 439.3% during the first quarter. Evermay Wealth Management LLC now owns 151 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares in the last quarter. Finally, Worth Asset Management LLC purchased a new position in Zoetis during the first quarter valued at $26,000. 89.47% of the stock is owned by hedge funds and other institutional investors.

Zoetis Price Performance

ZTS stock opened at $187.70 on Wednesday. The business has a fifty day moving average of $182.85 and a two-hundred day moving average of $174.97. The company has a quick ratio of 1.97, a current ratio of 3.50 and a debt-to-equity ratio of 1.42. The stock has a market cap of $86.40 billion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 3.02 and a beta of 0.78. Zoetis Inc. has a 52-week low of $124.15 and a 52-week high of $194.99.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 8th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.10. Zoetis had a return on equity of 52.02% and a net margin of 26.92%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the firm earned $1.20 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that Zoetis Inc. will post 5.42 earnings per share for the current year.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction on Friday, September 1st. The stock was sold at an average price of $192.97, for a total value of $178,111.31. Following the completion of the transaction, the executive vice president now directly owns 25,434 shares in the company, valued at $4,907,998.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction on Friday, September 1st. The stock was sold at an average price of $192.97, for a total value of $178,111.31. Following the completion of the transaction, the executive vice president now directly owns 25,434 shares in the company, valued at $4,907,998.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert J. Polzer sold 1,179 shares of Zoetis stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $189.94, for a total value of $223,939.26. Following the completion of the transaction, the executive vice president now owns 2,353 shares of the company’s stock, valued at $446,928.82. The disclosure for this sale can be found here. Insiders sold a total of 15,102 shares of company stock worth $2,741,661 over the last ninety days. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 2nd. The Goldman Sachs Group boosted their target price on Zoetis from $204.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $205.00 price target on shares of Zoetis in a report on Tuesday. HSBC assumed coverage on Zoetis in a research report on Wednesday, September 6th. They set a “buy” rating and a $230.00 price objective on the stock. Finally, Piper Sandler upped their target price on Zoetis from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 14th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $225.13.

Zoetis Profile

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 others; and companion animals comprising dogs, cats, and horses.