Granite Investment Partners LLC Lowers Position in Zoetis Inc. (NYSE:ZTS)

Granite Investment Partners LLC decreased its position in shares of Zoetis Inc. (NYSE:ZTS) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,449 shares of the company’s stock after selling 339 shares during the quarter. Granite Investment Partners LLC’s holdings in Zoetis were worth $11,346,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ZTS. Webster Bank N. A. grew its position in Zoetis by 89.1% during the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after buying an additional 82 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Zoetis during the 4th quarter valued at about $40,000. LRI Investments LLC acquired a new stake in shares of Zoetis during the 1st quarter valued at about $43,000. Hazlett Burt & Watson Inc. increased its stake in shares of Zoetis by 60.7% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock valued at $46,000 after purchasing an additional 102 shares in the last quarter. Finally, Central Valley Advisors LLC acquired a new position in Zoetis in the 2nd quarter worth about $49,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Zoetis Stock Down 1.6 %

NYSE ZTS opened at $193.24 on Friday. The business has a fifty day moving average price of $184.42 and a 200 day moving average price of $174.44. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The company has a market cap of $88.17 billion, a P/E ratio of 37.23, a P/E/G ratio of 2.98 and a beta of 0.88. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. Research analysts anticipate that Zoetis Inc. will post 5.84 EPS for the current fiscal year.

Zoetis 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.