Covea Finance Trims Holdings in Zoetis Inc. $ZTS

Key Points

• Covea Finance reduced its holdings in Zoetis Inc. by 3.7%, selling 11,065 shares, and now owns 286,797 shares valued at approximately $44.7 million.
• Zoetis reported quarterly earnings of $1.76 EPS, exceeding expectations and showing a revenue increase of 4.2% compared to the same quarter last year.
• Analysts currently have a consensus rating of "Moderate Buy" for Zoetis, with an average price target of $200.88.

Covea Finance decreased its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,797 shares of the company's stock after selling 11,065 shares during the quarter. Zoetis comprises 1.7% of Covea Finance's investment portfolio, making the stock its 19th largest holding. Covea Finance owned 0.06% of Zoetis worth $44,726,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Unified Investment Management purchased a new stake in Zoetis in the 2nd quarter valued at $295,000. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in Zoetis by 2.7% in the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 18,003 shares of the company's stock valued at $2,808,000 after purchasing an additional 478 shares during the last quarter. Martin Capital Advisors LLP purchased a new stake in Zoetis in the 2nd quarter valued at $247,000. Steigerwald Gordon & Koch Inc. raised its position in Zoetis by 1.0% in the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 117,808 shares of the company's stock valued at $18,372,000 after purchasing an additional 1,138 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its position in Zoetis by 6.8% during the 2nd quarter. CHICAGO TRUST Co NA now owns 10,994 shares of the company's stock worth $1,715,000 after buying an additional 702 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Stock Down 0.8%

Shares of ZTS opened at $144.73 on Tuesday. The firm has a market cap of $64.14 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.88. The company's fifty day moving average is $151.03 and its two-hundred day moving average is $156.27. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $197.51. The company has a quick ratio of 1.04, a current ratio of 1.76 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 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 firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm posted $1.56 earnings per share. Zoetis's revenue for the quarter was up 4.2% compared to the same quarter last year. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler upped their price objective on shares of Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Leerink Partners cut shares of Zoetis from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Argus reaffirmed a "buy" rating and set a $190.00 price target on shares of Zoetis in a research note on Tuesday, September 9th. Finally, Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and lowered their price target for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $200.88.

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.

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