Canandaigua National Bank & Trust Co. Sells 599 Shares of Zoetis Inc. (NYSE:ZTS)

Canandaigua National Bank & Trust Co. cut its position in shares of Zoetis Inc. (NYSE:ZTS) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,656 shares of the company’s stock after selling 599 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Zoetis were worth $1,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZTS. Belpointe Asset Management LLC raised its position in Zoetis by 24.8% during the fourth quarter. Belpointe Asset Management LLC now owns 2,071 shares of the company’s stock valued at $409,000 after purchasing an additional 412 shares during the period. Exencial Wealth Advisors LLC raised its position in Zoetis by 8.9% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,130 shares of the company’s stock valued at $618,000 after purchasing an additional 257 shares during the period. Morningstar Investment Services LLC purchased a new stake in Zoetis during the fourth quarter valued at approximately $332,000. Prudential PLC raised its position in Zoetis by 1.1% during the fourth quarter. Prudential PLC now owns 33,260 shares of the company’s stock valued at $6,565,000 after purchasing an additional 377 shares during the period. Finally, Waterloo Capital L.P. purchased a new stake in Zoetis during the fourth quarter valued at approximately $504,000. 92.80% of the stock is owned by institutional investors.

Zoetis Stock Down 0.5 %

Shares of ZTS traded down $0.96 during mid-day trading on Friday, hitting $190.03. The company’s stock had a trading volume of 1,421,979 shares, compared to its average volume of 2,576,563. The company’s 50-day moving average is $187.30 and its 200-day moving average is $175.45. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The firm has a market capitalization of $86.09 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 2.95 and a beta of 0.89. 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 (NYSE:ZTS) last announced its quarterly 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 net margin of 26.29% and a return on equity of 50.67%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the company earned $1.41 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Zoetis Inc. will post 5.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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