Focus Partners Wealth Lowers Stake in Zoetis Inc. (NYSE:ZTS)

Focus Partners Wealth cut its position in shares of Zoetis Inc. (NYSE:ZTS) by 68.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,970 shares of the company’s stock after selling 240,281 shares during the quarter. Focus Partners Wealth’s holdings in Zoetis were worth $18,182,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ZTS. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Zoetis by 482.8% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Rakuten Securities Inc. grew its holdings in shares of Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock worth $28,000 after buying an additional 166 shares in the last quarter. Navigoe LLC purchased a new stake in shares of Zoetis during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Zoetis during the fourth quarter worth about $44,000. Finally, Asset Planning Inc purchased a new stake in Zoetis in the fourth quarter valued at approximately $58,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ZTS. StockNews.com upgraded shares of Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Barclays boosted their target price on shares of Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Piper Sandler boosted their target price on shares of Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. UBS Group lowered their target price on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Finally, Morgan Stanley reduced their price target on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $212.13.

Zoetis Trading Down 1.1%

NYSE ZTS opened at $159.96 on Monday. The company’s fifty day simple moving average is $157.27 and its 200-day simple moving average is $165.95. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The stock has a market cap of $71.37 billion, a P/E ratio of 29.24, a PEG ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 earnings per share. Equities research analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Insider Activity at Zoetis

In related news, Director Willie M. Reed sold 1,210 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the sale, the director now directly owns 11,245 shares of the company’s stock, valued at $1,868,244.30. This represents a 9.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total transaction of $55,804.68. Following the completion of the sale, the executive vice president now directly owns 16,107 shares in the company, valued at $2,757,196.26. This represents a 1.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,862 shares of company stock valued at $312,254 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

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.