Parthenon LLC Lowers Stake in Zoetis Inc. (NYSE:ZTS)

Parthenon LLC lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,181 shares of the company’s stock after selling 619 shares during the quarter. Parthenon LLC’s holdings in Zoetis were worth $1,592,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Webster Bank N. A. raised its position in shares of 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 in the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of Zoetis during the 4th quarter valued at $33,000. Neo Ivy Capital Management purchased a new stake in shares of Zoetis during the 4th quarter valued at $40,000. LRI Investments LLC bought a new position in shares of Zoetis during the 1st quarter valued at $43,000. Finally, Blue Bell Private Wealth Management LLC grew its holdings in shares of Zoetis by 111.6% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 273 shares of the company’s stock valued at $46,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of Zoetis stock opened at $190.71 on Friday. The company’s fifty day simple moving average is $182.52 and its two-hundred day simple moving average is $174.54. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. 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 firm has a market cap of $86.40 billion, a PE ratio of 36.75, a price-to-earnings-growth ratio of 2.91 and a beta of 0.88.

Zoetis (NYSE:ZTS) last posted 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. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the company posted $1.41 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts expect that Zoetis Inc. will post 5.84 EPS for the current year.

Wall Street Analysts Forecast Growth

ZTS has been the topic of several recent research reports. Piper Sandler increased their target price on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. BTIG Research increased their target price on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $200.00 target price on shares of Zoetis in a report on Tuesday, August 27th. Finally, Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price 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.