Summit Global Investments Has $202,000 Stake in Zoetis Inc. (NYSE:ZTS)

Summit Global Investments trimmed its holdings in Zoetis Inc. (NYSE:ZTS) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,163 shares of the company’s stock after selling 128 shares during the period. Summit Global Investments’ holdings in Zoetis were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ZTS. Norges Bank acquired a new stake in shares of Zoetis in the fourth quarter valued at approximately $980,646,000. Price T Rowe Associates Inc. MD lifted its position in shares of Zoetis by 31.0% in the fourth 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 buying an additional 3,244,074 shares during the last quarter. Sarasin & Partners LLP increased its stake in shares of Zoetis by 546.3% during the second quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after purchasing an additional 1,904,899 shares during the period. Swedbank AB bought a new position in shares of Zoetis during the first quarter worth approximately $210,815,000. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Zoetis during the fourth quarter worth approximately $242,757,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Price Performance

Shares of ZTS traded down $0.74 during midday trading on Wednesday, hitting $182.86. The company’s stock had a trading volume of 756,808 shares, compared to its average volume of 2,730,239. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The company’s fifty day simple moving average is $177.99 and its two-hundred day simple moving average is $175.05. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $83.44 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 2.81 and a beta of 0.86.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (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 company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the company posted $1.41 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts expect that Zoetis Inc. will post 5.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. HSBC lowered their target price on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Stifel Nicolaus increased their target price on Zoetis from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. BTIG Research increased their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, The Goldman Sachs Group lowered their target price on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zoetis has an average rating of “Buy” and an average price target of $217.11.

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.