Bell Asset Management Ltd Cuts Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Bell Asset Management Ltd lowered its position in shares of Zoetis Inc. (NYSE:ZTS) by 29.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,531 shares of the company’s stock after selling 23,436 shares during the period. Zoetis makes up approximately 1.7% of Bell Asset Management Ltd’s portfolio, making the stock its 22nd largest position. Bell Asset Management Ltd’s holdings in Zoetis were worth $9,243,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Aspire Private Capital LLC purchased a new position in shares of Zoetis in the first quarter worth $15,019,213,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of Zoetis by 430.8% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 138 shares of the company’s stock valued at $26,000 after acquiring an additional 112 shares during the last quarter. Worth Asset Management LLC bought a new stake in shares of Zoetis in the first quarter worth approximately $26,000. HHM Wealth Advisors LLC lifted its position in Zoetis by 1,160.0% during the first quarter. HHM Wealth Advisors LLC now owns 189 shares of the company’s stock valued at $31,000 after purchasing an additional 174 shares during the period. Finally, IAG Wealth Partners LLC purchased a new stake in Zoetis in the fourth quarter worth approximately $29,000. 89.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Kristin C. Peck sold 13,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $179.97, for a total transaction of $2,339,610.00. Following the completion of the transaction, the chief executive officer now owns 56,843 shares in the company, valued at $10,230,034.71. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Zoetis news, CEO Kristin C. Peck sold 13,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $179.97, for a total value of $2,339,610.00. Following the sale, the chief executive officer now owns 56,843 shares in the company, valued at approximately $10,230,034.71. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert J. Polzer sold 1,179 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $189.94, for a total value of $223,939.26. Following the transaction, the executive vice president now owns 2,353 shares of the company’s stock, valued at approximately $446,928.82. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

Zoetis Stock Performance

Zoetis stock traded down $2.19 during midday trading on Thursday, hitting $190.51. The stock had a trading volume of 1,815,932 shares, compared to its average volume of 2,004,231. The company has a market capitalization of $87.70 billion, a PE ratio of 40.48, a P/E/G ratio of 3.01 and a beta of 0.78. Zoetis Inc. has a 52-week low of $124.15 and a 52-week high of $194.99. The firm’s fifty day moving average is $179.46 and its two-hundred day moving average is $173.75. The company has a current ratio of 3.50, a quick ratio of 1.97 and a debt-to-equity ratio of 1.42.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.10. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Zoetis had a return on equity of 52.02% and a net margin of 26.92%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. On average, research analysts forecast that Zoetis Inc. will post 5.42 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ZTS shares. Piper Sandler raised their price target on Zoetis from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 14th. The Goldman Sachs Group raised their target price on Zoetis from $204.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Stifel Nicolaus upped their price target on shares of Zoetis from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Monday. Finally, StockNews.com raised shares of Zoetis from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $224.43.

About Zoetis

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 others; and companion animals comprising dogs, cats, and horses.