Zoetis Inc. (NYSE:ZTS) Shares Sold by Marietta Investment Partners LLC

Marietta Investment Partners LLC cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 28.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,990 shares of the company’s stock after selling 3,609 shares during the quarter. Marietta Investment Partners LLC’s holdings in Zoetis were worth $1,559,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased 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 purchasing an additional 3,244,074 shares during the period. Sarasin & Partners LLP boosted its position 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 buying an additional 1,904,899 shares during the last quarter. Swedbank AB acquired a new position in Zoetis in the 1st quarter worth approximately $210,815,000. Public Employees Retirement Association of Colorado purchased a new position in Zoetis during the 4th quarter worth approximately $242,757,000. Finally, CIBC Private Wealth Group LLC raised its position in Zoetis by 122.6% during 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 during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on ZTS shares. Piper Sandler increased their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. BTIG Research increased their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Stifel Nicolaus lifted their price objective on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $220.38.

Zoetis Stock Performance

Shares of ZTS stock opened at $192.64 on Monday. 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. The business’s 50 day moving average is $184.70 and its two-hundred day moving average is $174.33. The company has a market capitalization of $87.90 billion, a P/E ratio of 37.12, a P/E/G ratio of 2.98 and a beta of 0.88.

Zoetis (NYSE:ZTS) last announced its earnings results 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 return on equity of 50.67% and a net margin of 26.29%. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company posted $1.41 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts expect that Zoetis Inc. will post 5.84 EPS for the current fiscal year.

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.