Fifth Third Bancorp Has $26.63 Million Stock Position in Zoetis Inc. $ZTS

Fifth Third Bancorp reduced its holdings in Zoetis Inc. (NYSE:ZTS) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,777 shares of the company’s stock after selling 21,645 shares during the quarter. Fifth Third Bancorp’s holdings in Zoetis were worth $26,633,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of Zoetis by 180.4% during the fourth quarter. Brighton Jones LLC now owns 4,629 shares of the company’s stock worth $754,000 after purchasing an additional 2,978 shares during the last quarter. PKO Investment Management Joint Stock Co bought a new stake in Zoetis during the 4th quarter worth about $978,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Zoetis in the 4th quarter valued at about $57,184,000. Members Wealth LLC bought a new position in shares of Zoetis in the fourth quarter worth about $202,000. Finally, NorthCrest Asset Manangement LLC grew its stake in shares of Zoetis by 7.3% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 24,946 shares of the company’s stock valued at $4,065,000 after purchasing an additional 1,696 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Trading Down 0.7%

ZTS stock opened at $141.65 on Thursday. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $197.51. The company has a market capitalization of $62.78 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 2.29 and a beta of 0.89. The company’s 50-day simple moving average is $150.63 and its 200 day simple moving average is $156.07. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.14. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the company earned $1.56 EPS. The company’s revenue was up 4.2% on a year-over-year basis. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, sell-side analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on ZTS. Leerink Partners cut Zoetis from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. Stifel Nicolaus lowered Zoetis from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Argus restated a “buy” rating and set a $190.00 target price on shares of Zoetis in a research report on Tuesday, September 9th. Leerink Partnrs cut shares of Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Finally, Piper Sandler increased their target price on shares of Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.88.

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.