Cypress Capital Group Has $2.88 Million Stake in Zoetis Inc. (NYSE:ZTS)

Cypress Capital Group trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 7.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 16,603 shares of the company’s stock after selling 1,266 shares during the quarter. Cypress Capital Group’s holdings in Zoetis were worth $2,878,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Zoetis by 1.0% in the first quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock valued at $6,895,235,000 after purchasing an additional 414,605 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Zoetis by 31.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock valued at $2,707,262,000 after buying an additional 3,244,074 shares during the period. Capital World Investors boosted its holdings in shares of Zoetis by 0.6% in the fourth quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock valued at $1,788,988,000 after buying an additional 57,798 shares during the period. Norges Bank acquired a new position in shares of Zoetis in the fourth quarter valued at approximately $980,646,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Zoetis by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 4,509,599 shares of the company’s stock valued at $763,069,000 after buying an additional 151,689 shares during the period. 92.80% of the stock is owned by institutional investors.

Zoetis Stock Performance

Shares of ZTS traded down $1.27 during trading hours on Friday, hitting $180.90. The company had a trading volume of 1,262,412 shares, compared to its average volume of 1,969,611. The firm has a market cap of $81.96 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 2.79 and a beta of 0.86. The business has a fifty day moving average of $178.56 and a 200-day moving average of $174.78. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating 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 firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm earned $1.41 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts anticipate that Zoetis Inc. will post 5.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Argus upgraded shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Piper Sandler increased their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. HSBC reduced their target price on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. BTIG Research increased their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, The Goldman Sachs Group reduced their target price on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a report on Monday, May 6th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $217.11.

Zoetis Profile

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.