Zoetis Inc. (NYSE:ZTS) Stake Decreased by 1ST Source Bank

1ST Source Bank trimmed its holdings in Zoetis Inc. (NYSE:ZTS) by 20.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,464 shares of the company’s stock after selling 1,383 shares during the quarter. 1ST Source Bank’s holdings in Zoetis were worth $947,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ZTS. Vanguard Group Inc. raised its stake in shares of Zoetis by 1.0% during the first quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock valued at $6,895,235,000 after purchasing an additional 414,605 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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 acquiring an additional 3,244,074 shares in the last quarter. Capital World Investors raised its holdings in Zoetis by 0.6% during the fourth quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock worth $1,788,988,000 after purchasing an additional 57,798 shares in the last quarter. Norges Bank bought a new position in Zoetis during the 4th quarter valued at $980,646,000. Finally, Bank of New York Mellon Corp increased its position in shares of Zoetis by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock valued at $812,695,000 after purchasing an additional 178,303 shares during the period. Institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $200.00 target price on shares of Zoetis in a report on Tuesday, August 27th. Piper Sandler boosted their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, BTIG Research boosted their price target on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $217.11.

Zoetis Price Performance

NYSE ZTS opened at $191.17 on Friday. The stock’s 50-day moving average price is $182.85 and its two-hundred day moving average price is $174.50. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The company has a market cap of $86.61 billion, a PE ratio of 36.83, a PEG ratio of 2.92 and a beta of 0.88. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS. On average, 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.