Gerber Kawasaki Wealth & Investment Management Sells 6,366 Shares of Zoetis Inc. $ZTS

Key Points

• Gerber Kawasaki Wealth & Investment Management reduced its stake in Zoetis Inc. by 56.1% in the first quarter, now holding 4,978 shares valued at $820,000.
• Several hedge funds, including Lansforsakringar Fondforvaltning and Guggenheim Capital, increased their stakes in Zoetis during the same period, with ownership by institutional investors reaching 92.80%.
• Zoetis reported a quarterly earnings per share of $1.76, exceeding analyst estimates, with expected results for FY 2025 projected at 6.300-6.400 EPS.

Gerber Kawasaki Wealth & Investment Management lessened its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 56.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,978 shares of the company's stock after selling 6,366 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in Zoetis were worth $820,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ZTS. Cornerstone Planning Group LLC grew its holdings in shares of Zoetis by 79.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock worth $30,000 after acquiring an additional 88 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Zoetis by 87.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after buying an additional 120 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Zoetis by 141.4% during the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after buying an additional 164 shares in the last quarter. Bfsg LLC grew its holdings in shares of Zoetis by 614.6% during the first quarter. Bfsg LLC now owns 293 shares of the company's stock valued at $48,000 after buying an additional 252 shares in the last quarter. Finally, Garde Capital Inc. purchased a new position in shares of Zoetis during the first quarter valued at $49,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group lowered their target price on 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 downgraded Zoetis from an "outperform" rating to a "market perform" rating and decreased their target price 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 dropped their target price for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Finally, Piper Sandler increased their target price on Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Four investment 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 currently has an average rating of "Moderate Buy" and a consensus target price of $202.43.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the sale, the executive vice president directly owned 15,129 shares of the company's stock, valued at $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Zoetis Price Performance

ZTS stock traded up $1.66 during midday trading on Friday, reaching $156.45. 1,534,551 shares of the company's stock traded hands, compared to its average volume of 3,151,983. The company has a 50-day simple moving average of $153.51 and a two-hundred day simple moving average of $157.85. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The company has a market cap of $69.34 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.51 and a beta of 0.88. 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 released its 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. The company had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The business's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.56 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

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.