Sunbelt Securities Inc. Reduces Position in Zoetis Inc. (NYSE:ZTS)

Sunbelt Securities Inc. cut its position in Zoetis Inc. (NYSE:ZTS) by 18.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,009 shares of the company’s stock after selling 672 shares during the quarter. Sunbelt Securities Inc.’s holdings in Zoetis were worth $522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Webster Bank N. A. raised its holdings in Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after buying an additional 82 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Zoetis during the fourth quarter valued at $40,000. LRI Investments LLC purchased a new stake in shares of Zoetis during the first quarter valued at approximately $43,000. Hazlett Burt & Watson Inc. raised its stake 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 purchasing an additional 102 shares during the last quarter. Finally, Central Valley Advisors LLC bought a new position in Zoetis during the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Zoetis Stock Down 0.5 %

ZTS stock opened at $194.49 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The firm has a fifty day moving average price of $186.64 and a two-hundred day moving average price of $175.09. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The firm has a market cap of $88.74 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 2.99 and a beta of 0.88.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion for 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 quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 earnings per share. Research analysts predict that Zoetis Inc. will post 5.84 EPS for the current 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.