Walter Public Investments Inc. Reduces Holdings in Zoetis Inc. $ZTS

Key Points

• Walter Public Investments Inc. reduced its stake in Zoetis Inc. by 14.6%, selling 16,190 shares during the second quarter, leaving them with 94,389 shares valued at approximately $14.72 million.
• Zoetis reported quarterly earnings of $1.76 per share, exceeding analyst estimates, along with a revenue of $2.46 billion for the quarter, a 4.2% increase year-over-year.
• Analysts have mixed ratings on Zoetis, with an average target price of $200.88, as some firms upgraded their ratings while others downgraded, indicating a varied outlook for the stock.

Walter Public Investments Inc. reduced its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 14.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,389 shares of the company's stock after selling 16,190 shares during the period. Zoetis accounts for approximately 2.5% of Walter Public Investments Inc.'s portfolio, making the stock its 21st largest position. Walter Public Investments Inc.'s holdings in Zoetis were worth $14,720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nova Wealth Management Inc. bought a new position in Zoetis during the 1st quarter valued at about $25,000. 1248 Management LLC bought a new position in shares of Zoetis during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new position in Zoetis during the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC increased its stake in shares of Zoetis by 79.3% in the first 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 period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Zoetis by 87.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock worth $42,000 after buying an additional 120 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Stock Down 0.9%

ZTS traded down $1.28 during trading hours on Friday, hitting $145.82. 4,455,824 shares of the company's stock were exchanged, compared to its average volume of 2,375,084. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $197.51. The firm has a 50 day moving average of $151.25 and a 200 day moving average of $156.45. The firm has a market cap of $64.63 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 2.34 and a beta of 0.88. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05.

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, topping 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 the consensus estimate of $2.41 billion. During the same period in the prior year, the firm earned $1.56 EPS. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ZTS shares. Leerink Partners lowered 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 report on Thursday, July 17th. Leerink Partnrs downgraded shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and reduced their target price for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Argus reaffirmed a "buy" rating and set a $190.00 target price on shares of Zoetis in a research note on Tuesday, September 9th. Finally, Piper Sandler lifted 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. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $200.88.

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.