Zoetis Inc. $ZTS Shares Sold by Confluence Investment Management LLC

Key Points

• Confluence Investment Management LLC reduced its stake in Zoetis Inc. by 1.9%, holding 137,030 shares valued at approximately $21.37 million.
• Several hedge funds have increased their holdings in Zoetis, with Brighton Jones LLC leading with a 180.4% increase.
• Analysts have mixed ratings for Zoetis, with a consensus target price of $200.88, indicating a "Moderate Buy" outlook for the stock.

Confluence Investment Management LLC lowered its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,030 shares of the company's stock after selling 2,645 shares during the quarter. Confluence Investment Management LLC's holdings in Zoetis were worth $21,370,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in Zoetis by 180.4% in the 4th quarter. Brighton Jones LLC now owns 4,629 shares of the company's stock worth $754,000 after buying an additional 2,978 shares during the period. Gotham Asset Management LLC increased its holdings in Zoetis by 100.8% in the 4th quarter. Gotham Asset Management LLC now owns 7,973 shares of the company's stock worth $1,299,000 after buying an additional 4,002 shares during the period. NorthRock Partners LLC increased its holdings in Zoetis by 57.2% in the 4th quarter. NorthRock Partners LLC now owns 5,520 shares of the company's stock worth $899,000 after buying an additional 2,009 shares during the period. Rafferty Asset Management LLC increased its holdings in Zoetis by 10.2% in the 4th quarter. Rafferty Asset Management LLC now owns 53,173 shares of the company's stock worth $8,663,000 after buying an additional 4,927 shares during the period. Finally, Royal Bank of Canada increased its holdings in Zoetis by 11.8% in the 4th quarter. Royal Bank of Canada now owns 3,437,895 shares of the company's stock worth $560,137,000 after buying an additional 363,843 shares during the period. Institutional investors and hedge funds own 92.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZTS. Argus reiterated a "buy" rating and issued a $190.00 price target on shares of Zoetis in a report on Tuesday. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. 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 dropped their price objective for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Finally, Piper Sandler raised their price objective 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 research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $200.88.

Zoetis Price Performance

Zoetis stock opened at $148.33 on Friday. The company's fifty day moving average price is $152.32 and its 200 day moving average price is $157.31. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The stock has a market capitalization of $65.74 billion, a P/E ratio of 25.53, a P/E/G ratio of 2.42 and a beta of 0.89. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) 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 firm had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same quarter last year, the company earned $1.56 EPS. The firm'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. As a group, equities research analysts anticipate 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.

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