Cresset Asset Management LLC Has $4.15 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Cresset Asset Management LLC lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 64.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,479 shares of the company's stock after selling 46,521 shares during the quarter. Cresset Asset Management LLC's holdings in Zoetis were worth $4,151,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Crestline Management LP acquired a new position in Zoetis in the 4th quarter valued at approximately $475,000. Cetera Investment Advisers increased its stake in shares of Zoetis by 0.5% in the fourth quarter. Cetera Investment Advisers now owns 109,460 shares of the company's stock worth $17,834,000 after acquiring an additional 554 shares during the last quarter. Centiva Capital LP acquired a new stake in Zoetis during the fourth quarter valued at $1,086,000. BOKF NA boosted its position in Zoetis by 10.3% during the fourth quarter. BOKF NA now owns 64,623 shares of the company's stock valued at $10,554,000 after purchasing an additional 6,024 shares during the last quarter. Finally, Bridgefront Capital LLC purchased a new position in Zoetis in the fourth quarter valued at about $785,000. Institutional investors and hedge funds own 92.80% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ZTS. StockNews.com upgraded Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Piper Sandler lifted their target price on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday. Barclays increased their price target on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Morgan Stanley reduced their price objective on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Finally, Stifel Nicolaus lowered their target price on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $212.75.

Zoetis Stock Performance

Shares of Zoetis stock traded down $1.49 during trading on Tuesday, reaching $160.43. The company's stock had a trading volume of 3,328,669 shares, compared to its average volume of 2,500,163. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. The firm has a market cap of $71.58 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The business's fifty day moving average price is $157.17 and its 200-day moving average price is $165.83.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.08. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. Zoetis's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company posted $1.38 earnings per share. As a group, equities research analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Insider Activity

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the transaction, the director now owns 11,245 shares of the company's stock, valued at $1,868,244.30. This represents a 9.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $170.00, for a total value of $55,420.00. Following the sale, the executive vice president now directly owns 15,781 shares in the company, valued at $2,682,770. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

About Zoetis

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.