Canada Pension Plan Investment Board Trims Stock Position in Zoetis Inc. $ZTS

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Zoetis Inc. by 17.4%, selling 127,556 shares and now holding 607,188 shares valued at approximately $99.97 million.
• Zoetis recently reported an EPS of $1.76 for the quarter, exceeding expectations, with a year-over-year revenue increase of 4.2%.
• Analysts have provided mixed ratings for Zoetis, with four giving it a "Buy" rating and four a "Hold" rating, while consensus price target stands at $202.43.

Canada Pension Plan Investment Board trimmed its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 17.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,188 shares of the company's stock after selling 127,556 shares during the quarter. Canada Pension Plan Investment Board owned about 0.14% of Zoetis worth $99,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Portside Wealth Group LLC increased its stake in shares of Zoetis by 24.7% in the 1st quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock worth $5,550,000 after acquiring an additional 6,672 shares in the last quarter. Tandem Investment Advisors Inc. increased its stake in shares of Zoetis by 100.3% in the 1st quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company's stock worth $65,140,000 after acquiring an additional 198,089 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Zoetis by 31.2% in the 1st quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company's stock worth $1,217,000 after acquiring an additional 1,760 shares in the last quarter. Horizon Financial Services LLC bought a new position in shares of Zoetis in the 1st quarter worth about $380,000. Finally, Sage Rhino Capital LLC increased its stake in shares of Zoetis by 117.6% in the 1st quarter. Sage Rhino Capital LLC now owns 7,014 shares of the company's stock worth $1,155,000 after acquiring an additional 3,791 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Zoetis Stock Performance

NYSE:ZTS traded down $3.64 during mid-day trading on Tuesday, reaching $152.76. The company's stock had a trading volume of 2,177,534 shares, compared to its average volume of 3,067,273. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33. The firm's fifty day moving average price is $153.49 and its two-hundred day moving average price is $157.85. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. The stock has a market cap of $67.70 billion, a P/E ratio of 26.29, a PEG ratio of 2.51 and a beta of 0.88.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share 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 business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm earned $1.56 EPS. Zoetis'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, equities analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.