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Corebridge Financial Inc. Has $19.37 Million Stock Position in Zoetis Inc. $ZTS

Zoetis logo with Medical background

Key Points

  • Corebridge Financial Inc. has reduced its stake in Zoetis Inc. by 4.2%, owning 117,652 shares worth approximately $19.37 million as of its latest SEC filing.
  • Several other institutional investors have also adjusted their positions in Zoetis, with 92.80% of the stock now owned by institutional investors and hedge funds.
  • Recent earnings results for Zoetis showed an EPS of $1.76, beating estimates and reflecting a 4.2% increase in revenue year-over-year.
  • Looking to export and analyze Zoetis data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Corebridge Financial Inc. trimmed its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,652 shares of the company's stock after selling 5,177 shares during the quarter. Corebridge Financial Inc.'s holdings in Zoetis were worth $19,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its holdings in Zoetis by 1.8% during the 1st quarter. Lindbrook Capital LLC now owns 3,715 shares of the company's stock worth $612,000 after purchasing an additional 65 shares in the last quarter. Quotient Wealth Partners LLC increased its holdings in Zoetis by 2.3% during the 1st quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company's stock worth $521,000 after purchasing an additional 72 shares in the last quarter. Broadway Wealth Solutions Inc. increased its holdings in Zoetis by 4.4% during the 1st quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company's stock worth $287,000 after purchasing an additional 73 shares in the last quarter. Menard Financial Group LLC increased its holdings in Zoetis by 3.8% during the 1st quarter. Menard Financial Group LLC now owns 2,032 shares of the company's stock worth $305,000 after purchasing an additional 75 shares in the last quarter. Finally, Moseley Investment Management Inc. increased its holdings in Zoetis by 1.4% during the 1st quarter. Moseley Investment Management Inc. now owns 5,719 shares of the company's stock worth $942,000 after purchasing an additional 77 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the completion of the sale, the executive vice president directly owned 15,129 shares in the company, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. UBS Group reduced their price objective on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Piper Sandler increased their price objective 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. Finally, Leerink Partners downgraded shares of Zoetis from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Zoetis has an average rating of "Moderate Buy" and an average price target of $202.43.

View Our Latest Stock Analysis on Zoetis

Zoetis Trading Down 1.0%

Shares of NYSE:ZTS opened at $155.1040 on Tuesday. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. The company has a market capitalization of $68.74 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 2.51 and a beta of 0.88. The company has a 50-day simple moving average of $153.66 and a 200 day simple moving average of $158.30. 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 - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.14. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the business posted $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. Sell-side analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ZTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoetis Inc. (NYSE:ZTS - Free Report).

Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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