Zoetis Inc. (NYSE:ZTS) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lessened its stake in shares of Zoetis Inc. (NYSE:ZTS) by 6.3% in the 2nd quarter, Holdings Channel reports. The firm owned 20,309 shares of the company’s stock after selling 1,359 shares during the period. MainStreet Investment Advisors LLC’s holdings in Zoetis were worth $3,521,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Asset Dedication LLC boosted its stake in shares of Zoetis by 4.8% in the second quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock worth $204,000 after acquiring an additional 54 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Zoetis during the 2nd quarter worth $1,954,000. SRS Capital Advisors Inc. grew its holdings in shares of Zoetis by 37.9% during the second quarter. SRS Capital Advisors Inc. now owns 7,256 shares of the company’s stock worth $1,258,000 after buying an additional 1,994 shares in the last quarter. Chicago Capital LLC raised its position in shares of Zoetis by 0.3% in the second quarter. Chicago Capital LLC now owns 274,140 shares of the company’s stock valued at $47,525,000 after buying an additional 949 shares during the last quarter. Finally, Isthmus Partners LLC lifted its stake in shares of Zoetis by 0.7% in the second quarter. Isthmus Partners LLC now owns 67,888 shares of the company’s stock worth $11,769,000 after buying an additional 482 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

NYSE ZTS opened at $189.23 on Friday. The stock has a fifty day simple moving average of $181.22 and a 200-day simple moving average of $174.49. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The stock has a market cap of $85.73 billion, a PE ratio of 36.46, a P/E/G ratio of 2.87 and a beta of 0.88. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the firm posted $1.41 earnings per share. Zoetis’s revenue was up 8.3% compared to the same quarter last year. Equities analysts anticipate that Zoetis Inc. will post 5.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ZTS. Piper Sandler upped their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Stifel Nicolaus reiterated a “buy” rating and set a $200.00 price objective on shares of Zoetis in a research report on Tuesday, August 27th. Finally, BTIG Research upped their target price on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $217.11.

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.