Allstate Corp Sells 5,688 Shares of Zoetis Inc. $ZTS

Key Points

• Allstate Corp decreased its stake in Zoetis Inc. by 42.4%, selling 5,688 shares during the first quarter and now holding 7,731 shares valued at approximately $1.27 million.
• Zoetis Inc. reported earnings of $1.76 per share, exceeding analysts' expectations, and achieved a revenue of $2.46 billion for the quarter, up 4.2% year-over-year.
• Recent analyst ratings for Zoetis show a mix of adjustments, with opinions ranging from "buy" to "hold," affecting price targets notably from $180 to as low as $155.

Allstate Corp reduced its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 42.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,731 shares of the company's stock after selling 5,688 shares during the quarter. Allstate Corp's holdings in Zoetis were worth $1,273,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Zoetis by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 41,556,164 shares of the company's stock valued at $6,842,222,000 after purchasing an additional 189,287 shares during the period. Polen Capital Management LLC lifted its stake in shares of Zoetis by 17.6% in the 1st quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock valued at $1,448,401,000 after purchasing an additional 1,313,653 shares during the period. Northern Trust Corp lifted its stake in shares of Zoetis by 1.2% in the 1st quarter. Northern Trust Corp now owns 6,504,902 shares of the company's stock valued at $1,071,032,000 after purchasing an additional 78,508 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Zoetis by 2.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,146,024 shares of the company's stock valued at $847,293,000 after purchasing an additional 109,791 shares during the period. Finally, Unisphere Establishment lifted its stake in shares of Zoetis by 7.3% in the 4th quarter. Unisphere Establishment now owns 4,800,000 shares of the company's stock valued at $782,064,000 after purchasing an additional 325,000 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following the completion of the transaction, the executive vice president owned 15,129 shares in the company, valued at $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by corporate insiders.

Zoetis Stock Up 0.5%

Shares of NYSE:ZTS opened at $156.3180 on Friday. The stock has a fifty day simple moving average of $153.84 and a two-hundred day simple moving average of $158.52. The stock has a market capitalization of $69.28 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.51 and a beta of 0.88. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.41 billion. During the same quarter in the previous year, the business earned $1.56 earnings per share. 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. On average, research analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Leerink Partners cut Zoetis from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. Stifel Nicolaus cut Zoetis from a "buy" rating to a "hold" rating and lowered their price objective for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Piper Sandler lifted their price objective on Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. Finally, UBS Group lowered their price objective on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

Zoetis 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.

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