Park Place Capital Corp Reduces Stock Holdings in Zoetis Inc. $ZTS

Park Place Capital Corp cut its position in shares of Zoetis Inc. (NYSE:ZTS) by 34.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 710 shares of the company’s stock after selling 365 shares during the period. Park Place Capital Corp’s holdings in Zoetis were worth $113,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ZTS. Nova Wealth Management Inc. acquired a new position in Zoetis during the first quarter worth $25,000. 1248 Management LLC acquired a new position in Zoetis during the first quarter worth $27,000. Saudi Central Bank acquired a new stake in shares of Zoetis in the first quarter valued at about $29,000. Cornerstone Planning Group LLC raised its position in shares of Zoetis by 79.3% in the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock valued at $30,000 after buying an additional 88 shares during the last quarter. Finally, ORG Partners LLC raised its position in shares of Zoetis by 56.8% in the second quarter. ORG Partners LLC now owns 232 shares of the company’s stock valued at $37,000 after buying an additional 84 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

Shares of Zoetis stock opened at $146.12 on Wednesday. The firm’s fifty day simple moving average is $150.16 and its 200-day simple moving average is $155.45. The stock has a market capitalization of $64.76 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 2.30 and a beta of 0.89. Zoetis Inc. has a 12 month low of $139.34 and a 12 month high of $196.55. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on ZTS shares. Leerink Partners cut shares of Zoetis from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Leerink Partnrs cut shares of Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Stifel Nicolaus lowered shares of Zoetis from a “buy” rating to a “hold” rating and dropped their price objective for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Argus reissued a “buy” rating and issued a $190.00 price objective on shares of Zoetis in a report on Tuesday, September 9th. Finally, Piper Sandler upped their price objective on shares of Zoetis from $210.00 to $215.00 and gave the company 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.88.

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.