Legacy Capital Wealth Partners LLC Buys Shares of 1,762 Zoetis Inc. (NYSE:ZTS)

Legacy Capital Wealth Partners LLC bought a new stake in shares of Zoetis Inc. (NYSE:ZTS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,762 shares of the company’s stock, valued at approximately $306,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ZTS. Norges Bank acquired a new stake in Zoetis during the 4th quarter valued at approximately $980,646,000. Price T Rowe Associates Inc. MD grew its position in shares of 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 grew its position in shares of Zoetis by 546.3% during the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after buying an additional 1,904,899 shares during the period. Swedbank AB acquired a new stake in shares of Zoetis during the 1st quarter worth approximately $210,815,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of 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 NYSE:ZTS opened at $187.33 on Thursday. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The stock’s fifty day simple moving average is $180.70 and its two-hundred day simple moving average is $174.48. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The stock has a market cap of $85.48 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 2.81 and a beta of 0.88.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the business earned $1.41 EPS. The business’s revenue was up 8.3% on a year-over-year basis. As a group, analysts forecast that Zoetis Inc. will post 5.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ZTS. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research raised their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $200.00 price objective on shares of Zoetis in a research report on Tuesday, August 27th. HSBC reduced their price target on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, Piper Sandler lifted their price target on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and an average target price 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.