Covea Finance decreased its position in Zoetis Inc. (NYSE:ZTS – Get Rating) by 6.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,107 shares of the company's stock after selling 14,110 shares during the period. Zoetis makes up about 4.8% of Covea Finance's portfolio, making the stock its 4th biggest holding. Covea Finance's holdings in Zoetis were worth $34,225,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZTS. Rehmann Capital Advisory Group raised its stake in shares of Zoetis by 1.7% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,559 shares of the company's stock valued at $869,000 after buying an additional 58 shares during the last quarter. Norway Savings Bank raised its stake in shares of Zoetis by 1.8% during the 2nd quarter. Norway Savings Bank now owns 3,304 shares of the company's stock valued at $568,000 after buying an additional 60 shares during the last quarter. Salvus Wealth Management LLC raised its stake in shares of Zoetis by 3.9% during the 1st quarter. Salvus Wealth Management LLC now owns 1,631 shares of the company's stock valued at $308,000 after buying an additional 61 shares during the last quarter. Redpoint Investment Management Pty Ltd raised its stake in shares of Zoetis by 0.5% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 12,803 shares of the company's stock valued at $2,201,000 after buying an additional 66 shares during the last quarter. Finally, Telemus Capital LLC raised its stake in shares of Zoetis by 4.0% during the 1st quarter. Telemus Capital LLC now owns 1,753 shares of the company's stock valued at $331,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.
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Insider Transactions at Zoetis
In other news, CEO Kristin C. Peck sold 9,689 shares of the business's stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $180.00, for a total transaction of $1,744,020.00. Following the transaction, the chief executive officer now directly owns 39,743 shares in the company, valued at approximately $7,153,740. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Kristin C. Peck sold 9,689 shares of Zoetis stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $1,744,020.00. Following the sale, the chief executive officer now owns 39,743 shares of the company's stock, valued at approximately $7,153,740. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kristin C. Peck sold 311 shares of the business's stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $180.00, for a total value of $55,980.00. Following the completion of the sale, the chief executive officer now directly owns 39,743 shares in the company, valued at approximately $7,153,740. The disclosure for this sale can be found here. Insiders have sold a total of 12,167 shares of company stock worth $2,190,623 in the last ninety days. Insiders own 0.12% of the company's stock.
Zoetis Price Performance
ZTS stock traded down $2.66 during trading on Friday, hitting $148.29. The stock had a trading volume of 2,437,172 shares, compared to its average volume of 1,837,489. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.18 and a quick ratio of 1.46. Zoetis Inc. has a twelve month low of $147.77 and a twelve month high of $249.27. The stock has a market capitalization of $69.42 billion, a P/E ratio of 33.63, a PEG ratio of 2.64 and a beta of 0.77. The company's 50-day moving average price is $164.42 and its two-hundred day moving average price is $171.87.
Zoetis (NYSE:ZTS – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.02). The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. Zoetis had a return on equity of 49.03% and a net margin of 26.14%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 earnings per share. As a group, research analysts predict that Zoetis Inc. will post 4.99 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on ZTS shares. The Goldman Sachs Group reduced their price objective on Zoetis from $208.00 to $202.00 and set a "buy" rating for the company in a research note on Thursday, July 21st. StockNews.com cut Zoetis from a "strong-buy" rating to a "buy" rating in a research report on Thursday. Piper Sandler assumed coverage on Zoetis in a research report on Monday, July 11th. They set an "overweight" rating and a $205.00 target price on the stock. William Blair restated an "outperform" rating on shares of Zoetis in a research report on Friday, August 5th. Finally, Stifel Nicolaus dropped their target price on Zoetis from $275.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, June 24th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Zoetis has a consensus rating of "Moderate Buy" and an average price target of $224.00.
Zoetis Company Profile
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Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.
Further Reading
- Get a free copy of the StockNews.com research report on Zoetis (ZTS)
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