KLP Kapitalforvaltning AS Has $24.62 Million Holdings in Zoetis Inc. $ZTS

Key Points

• KLP Kapitalforvaltning AS reduced its stake in Zoetis Inc. by 27.2% in Q2, leaving it with a holding valued at $24.62 million after selling 59,000 shares.
• Zoetis reported $1.76 earnings per share for the last quarter, surpassing analyst expectations of $1.62, with a revenue of $2.46 billion.
• Institutional investors own 92.80% of Zoetis stock, with various large investors significantly increasing their stakes in the company during the first quarter.

KLP Kapitalforvaltning AS cut its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 27.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,874 shares of the company's stock after selling 59,000 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Zoetis were worth $24,620,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nuveen LLC acquired a new stake in Zoetis in the first quarter worth $616,375,000. Mackenzie Financial Corp grew its holdings in Zoetis by 4,158.3% in the first quarter. Mackenzie Financial Corp now owns 1,824,967 shares of the company's stock worth $300,481,000 after purchasing an additional 1,782,110 shares during the period. Sarasin & Partners LLP acquired a new stake in Zoetis in the first quarter worth $255,842,000. Polen Capital Management LLC grew its holdings in Zoetis by 17.6% in the first quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock worth $1,448,401,000 after purchasing an additional 1,313,653 shares during the period. Finally, Amundi grew its holdings in Zoetis by 30.8% in the first quarter. Amundi now owns 3,595,628 shares of the company's stock worth $575,691,000 after purchasing an additional 846,909 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Down 1.7%

ZTS opened at $142.91 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. The company's 50-day moving average is $149.52 and its 200 day moving average is $154.82. Zoetis Inc. has a fifty-two week low of $139.34 and a fifty-two week high of $196.55. The firm has a market capitalization of $63.33 billion, a P/E ratio of 24.60, a PEG ratio of 2.33 and a beta of 0.90.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.14. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the firm earned $1.56 earnings per share. The firm'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. Research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ZTS shares. Weiss Ratings restated a "hold (c-)" rating on shares of Zoetis in a report on Saturday, September 27th. Argus reiterated a "buy" rating and set a $190.00 price objective on shares of Zoetis in a report on Tuesday, September 9th. Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Leerink Partners cut shares of Zoetis from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Finally, Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and reduced their price objective for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $200.88.

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.

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