Steel Grove Capital Advisors LLC Purchases 470 Shares of Zoetis Inc. (NYSE:ZTS)

Steel Grove Capital Advisors LLC lifted its position in Zoetis Inc. (NYSE:ZTS) by 37.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,734 shares of the company’s stock after purchasing an additional 470 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Zoetis were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ZTS. Price T Rowe Associates Inc. MD increased its stake in Zoetis by 31.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after acquiring an additional 3,244,074 shares during the last quarter. Sarasin & Partners LLP raised its stake in Zoetis by 546.3% in the second quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after purchasing an additional 1,904,899 shares in the last quarter. Swedbank AB bought a new stake in Zoetis during the first quarter valued at approximately $210,815,000. Public Employees Retirement Association of Colorado purchased a new position in Zoetis in the 4th quarter worth approximately $242,757,000. Finally, CIBC Private Wealth Group LLC grew its stake in Zoetis by 122.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,448,665 shares of the company’s stock worth $285,923,000 after buying an additional 797,884 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Zoetis Price Performance

ZTS stock opened at $193.59 on Tuesday. The stock has a market capitalization of $88.33 billion, a price-to-earnings ratio of 37.30, a PEG ratio of 2.98 and a beta of 0.88. The firm’s 50-day moving average price is $185.01 and its two-hundred day moving average price is $174.42. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.31 billion. During the same quarter in the previous year, the business earned $1.41 EPS. Zoetis’s revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts predict that Zoetis Inc. will post 5.84 earnings per share 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.