Zoetis Inc. (NYSE:ZTS) is Covea Finance’s 6th Largest Position

Covea Finance raised its position in shares of Zoetis Inc. (NYSE:ZTS) by 8.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,054 shares of the company’s stock after purchasing an additional 17,537 shares during the period. Zoetis accounts for about 2.2% of Covea Finance’s investment portfolio, making the stock its 6th largest position. Covea Finance owned approximately 0.05% of Zoetis worth $40,651,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Enterprise Financial Services Corp increased its position in Zoetis by 2.3% in the 1st quarter. Enterprise Financial Services Corp now owns 2,446 shares of the company’s stock worth $407,000 after buying an additional 55 shares during the period. M Holdings Securities Inc. increased its position in Zoetis by 2.2% in the 4th quarter. M Holdings Securities Inc. now owns 2,931 shares of the company’s stock worth $430,000 after buying an additional 64 shares during the period. Lake Street Financial LLC increased its position in Zoetis by 2.4% in the 1st quarter. Lake Street Financial LLC now owns 2,733 shares of the company’s stock worth $455,000 after buying an additional 64 shares during the period. Newbridge Financial Services Group Inc. increased its position in Zoetis by 21.2% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 366 shares of the company’s stock worth $61,000 after buying an additional 64 shares during the period. Finally, RB Capital Management LLC increased its position in Zoetis by 3.7% in the 1st quarter. RB Capital Management LLC now owns 1,805 shares of the company’s stock worth $301,000 after buying an additional 65 shares during the period. 89.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. HSBC assumed coverage on Zoetis in a report on Wednesday, September 6th. They set a “buy” rating and a $230.00 price objective on the stock. Piper Sandler lifted their price target on shares of Zoetis from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 14th. StockNews.com raised shares of Zoetis from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Stifel Nicolaus reiterated a “buy” rating and issued a $205.00 target price on shares of Zoetis in a research note on Tuesday. Finally, The Goldman Sachs Group boosted their price objective on Zoetis from $204.00 to $213.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $225.13.

Zoetis Stock Down 0.1 %

Shares of NYSE:ZTS traded down $0.22 during trading on Friday, hitting $182.52. 453,217 shares of the company’s stock traded hands, compared to its average volume of 1,969,941. Zoetis Inc. has a 52 week low of $124.15 and a 52 week high of $194.99. The company has a current ratio of 3.50, a quick ratio of 1.97 and a debt-to-equity ratio of 1.42. The company has a market cap of $84.02 billion, a price-to-earnings ratio of 38.39, a price-to-earnings-growth ratio of 2.93 and a beta of 0.78. The company has a 50-day moving average price of $183.10 and a 200-day moving average price of $175.02.

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

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $192.97, for a total transaction of $178,111.31. Following the sale, the executive vice president now directly owns 25,434 shares in the company, valued at $4,907,998.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $192.97, for a total value of $178,111.31. Following the sale, the executive vice president now directly owns 25,434 shares in the company, valued at approximately $4,907,998.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kristin C. Peck sold 13,000 shares of Zoetis stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $179.97, for a total transaction of $2,339,610.00. Following the sale, the chief executive officer now owns 56,843 shares in the company, valued at $10,230,034.71. The disclosure for this sale can be found here. Insiders have sold 15,102 shares of company stock worth $2,741,661 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.

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.