Cypress Capital Group Sells 1,266 Shares of Zoetis Inc. (NYSE:ZTS)

Cypress Capital Group cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,603 shares of the company’s stock after selling 1,266 shares during the period. Cypress Capital Group’s holdings in Zoetis were worth $2,878,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Zoetis in the fourth quarter valued at approximately $980,646,000. Price T Rowe Associates Inc. MD lifted its holdings in Zoetis by 31.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after buying an additional 3,244,074 shares during the period. Sarasin & Partners LLP lifted its stake in shares of Zoetis by 546.3% in the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after purchasing an additional 1,904,899 shares during the period. Swedbank AB acquired a new position in shares of Zoetis in the 1st quarter valued at about $210,815,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in Zoetis during the 4th quarter worth approximately $242,757,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of ZTS traded down $1.27 during midday trading on Friday, hitting $180.90. 1,262,412 shares of the company traded hands, compared to its average volume of 1,969,611. The firm has a 50 day moving average of $178.56 and a 200-day moving average of $174.78. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The stock 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 company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm earned $1.41 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts forecast that Zoetis Inc. will post 5.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. The Goldman Sachs Group decreased their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a report on Monday, May 6th. Piper Sandler increased their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus increased their price objective on Zoetis from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. BTIG Research increased their target price on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, HSBC reduced their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $217.11.

Zoetis Company 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.