Zoetis Inc. (NYSE:ZTS) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC reduced its stake in shares of Zoetis Inc. (NYSE:ZTS) by 45.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,000 shares of the company’s stock after selling 5,100 shares during the period. Cornerstone Advisors LLC’s holdings in Zoetis were worth $1,040,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Webster Bank N. A. raised its position in shares of Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Zoetis in the 4th quarter worth approximately $40,000. LRI Investments LLC purchased a new stake in Zoetis in the 1st quarter worth approximately $43,000. Hazlett Burt & Watson Inc. grew its stake in Zoetis by 60.7% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock worth $46,000 after acquiring an additional 102 shares during the period. Finally, Central Valley Advisors LLC purchased a new stake in Zoetis in the 2nd quarter worth approximately $49,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Up 1.7 %

Shares of NYSE ZTS opened at $194.25 on Tuesday. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The firm has a fifty day moving average of $183.22 and a 200-day moving average of $174.12. The stock has a market capitalization of $88.00 billion, a PE ratio of 37.43, a P/E/G ratio of 2.92 and a beta of 0.88. The company has a quick ratio of 2.09, a current ratio of 3.45 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 analysts’ consensus estimates 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 period in the prior year, the company earned $1.41 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. On average, analysts anticipate that Zoetis Inc. will post 5.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ZTS. Argus raised shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Piper Sandler lifted their target price 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 lifted their target price 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. Finally, Stifel Nicolaus reissued a “buy” rating and set a $200.00 price objective on shares of Zoetis in a research note on Tuesday, August 27th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $217.11.

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.