Zoetis Inc. (ZTS) Stake Cut by Brown Advisory Inc.
Brown Advisory Inc. cut its stake in Zoetis Inc. (NYSE:ZTS) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,292 shares of the company’s stock after selling 10,049 shares during the period. Brown Advisory Inc.’s holdings in Zoetis were worth $3,668,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NEXT Financial Group Inc increased its position in shares of Zoetis by 9.5% in the second quarter. NEXT Financial Group Inc now owns 2,136 shares of the company’s stock valued at $101,000 after buying an additional 186 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in shares of Zoetis during the first quarter valued at approximately $118,000. Glenmede Trust Co. NA increased its position in shares of Zoetis by 4.4% in the second quarter. Glenmede Trust Co. NA now owns 2,950 shares of the company’s stock valued at $139,000 after buying an additional 124 shares during the period. Evercore Wealth Management LLC increased its position in shares of Zoetis by 12.0% in the second quarter. Evercore Wealth Management LLC now owns 3,402 shares of the company’s stock valued at $161,000 after buying an additional 365 shares during the period. Finally, Mercer Capital Advisers Inc. purchased a new position in shares of Zoetis during the second quarter valued at approximately $165,000. Hedge funds and other institutional investors own 93.12% of the company’s stock.
Shares of Zoetis Inc. (NYSE:ZTS) traded up 0.326% during mid-day trading on Wednesday, hitting $50.765. 399,349 shares of the stock traded hands. The firm has a market capitalization of $25.13 billion, a P/E ratio of 39.537 and a beta of 1.01. The company’s 50 day moving average is $51.18 and its 200 day moving average is $47.83. Zoetis Inc. has a one year low of $38.26 and a one year high of $52.64.
Zoetis (NYSE:ZTS) last announced its earnings results on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Zoetis had a net margin of 13.15% and a return on equity of 77.58%. The business earned $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts expect that Zoetis Inc. will post $1.90 EPS for the current fiscal year.
Several brokerages recently commented on ZTS. Zacks Investment Research upgraded shares of Zoetis from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Wednesday, June 15th. Stifel Nicolaus began coverage on shares of Zoetis in a report on Tuesday, May 31st. They set a “buy” rating and a $58.00 price objective on the stock. Citigroup Inc. boosted their price objective on shares of Zoetis from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. Barclays PLC boosted their price objective on shares of Zoetis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, August 4th. Finally, Jefferies Group restated a “buy” rating and set a $60.00 price objective on shares of Zoetis in a report on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $54.88.
In related news, insider Andrew Fenton sold 13,870 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $51.25, for a total transaction of $710,837.50. Following the completion of the transaction, the insider now owns 17,719 shares in the company, valued at $908,098.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heidi C. Chen sold 32,097 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $50.98, for a total transaction of $1,636,305.06. Following the transaction, the insider now owns 46,060 shares of the company’s stock, valued at approximately $2,348,138.80. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the company’s stock.
Zoetis Company Profile
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a diversified business, marketing products across over eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock), and dogs, cats and horses (collectively, companion animals), and within over five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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