First American Bank Decreases Stock Position in Zoetis Inc. $ZTS

Key Points

• First American Bank decreased its stock position in Zoetis Inc. by 19.8%, owning 13,137 shares valued at approximately $2.05 million after selling 3,250 shares in Q2.
• Several hedge funds, including Lindbrook Capital and Secure Asset Management, have increased their stakes in Zoetis, indicating ongoing institutional interest in the stock.
• Zoetis reported a Q2 earnings per share of $1.76, exceeding expectations, with revenue reaching $2.46 billion, marking a 4.2% increase from the previous year.

First American Bank reduced its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 19.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,137 shares of the company's stock after selling 3,250 shares during the period. First American Bank's holdings in Zoetis were worth $2,049,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lindbrook Capital LLC raised its stake in Zoetis by 1.8% during the 1st quarter. Lindbrook Capital LLC now owns 3,715 shares of the company's stock valued at $612,000 after buying an additional 65 shares during the last quarter. Secure Asset Management LLC boosted its holdings in shares of Zoetis by 2.9% during the 2nd quarter. Secure Asset Management LLC now owns 2,448 shares of the company's stock valued at $382,000 after purchasing an additional 68 shares during the last quarter. Quotient Wealth Partners LLC boosted its holdings in shares of Zoetis by 2.3% during the 1st quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company's stock valued at $521,000 after purchasing an additional 72 shares during the last quarter. Broadway Wealth Solutions Inc. boosted its holdings in shares of Zoetis by 4.4% during the 1st quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company's stock valued at $287,000 after purchasing an additional 73 shares during the last quarter. Finally, Menard Financial Group LLC raised its position in shares of Zoetis by 3.8% during the 1st quarter. Menard Financial Group LLC now owns 2,032 shares of the company's stock valued at $305,000 after buying an additional 75 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ZTS shares. Stifel Nicolaus lowered 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 report on Wednesday, June 18th. Argus restated a "buy" rating and issued a $190.00 target price on shares of Zoetis in a research note on Tuesday, September 9th. Leerink Partnrs downgraded shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Piper Sandler upped their target price 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 dropped their target price for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $200.88.

Zoetis Price Performance

Shares of ZTS opened at $143.52 on Friday. The company has a market cap of $63.61 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89. Zoetis Inc. has a twelve month low of $139.34 and a twelve month 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. The company has a 50 day moving average of $150.35 and a two-hundred day moving average of $155.72.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.14. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. Zoetis's revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

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.

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).

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.