Park Place Capital Corp Has $319,000 Stake in Zoetis Inc. (NYSE:ZTS)

Park Place Capital Corp trimmed its holdings in Zoetis Inc. (NYSE:ZTS) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,631 shares of the company’s stock after selling 221 shares during the period. Park Place Capital Corp’s holdings in Zoetis were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZTS. Price T Rowe Associates Inc. MD raised 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 in the last quarter. Sarasin & Partners LLP raised its position in Zoetis by 546.3% during 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 acquired a new position in Zoetis during the first quarter valued at approximately $210,815,000. Marshall Wace LLP raised its position in Zoetis by 7,608.6% during the second quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock valued at $144,874,000 after purchasing an additional 824,843 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Zoetis by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 40,334,966 shares of the company’s stock valued at $7,960,912,000 after purchasing an additional 536,477 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

NYSE ZTS opened at $187.37 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The stock has a market cap of $84.89 billion, a PE ratio of 36.10, a PEG ratio of 2.91 and a beta of 0.89. The firm’s fifty day moving average price is $187.41 and its two-hundred day moving average price is $175.64.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share 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 company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Zoetis’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts expect that Zoetis Inc. will post 5.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on ZTS. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research boosted 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. Piper Sandler boosted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus boosted their target price on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and a consensus target price of $220.38.

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.