Mechanics Financial Corp Cuts Stake in Zoetis Inc. $ZTS

Mechanics Financial Corp reduced its position in Zoetis Inc. (NYSE:ZTS) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,942 shares of the company’s stock after selling 260 shares during the quarter. Mechanics Financial Corp’s holdings in Zoetis were worth $771,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Zoetis by 0.5% in the first quarter. Vanguard Group Inc. now owns 41,556,164 shares of the company’s stock worth $6,842,222,000 after purchasing an additional 189,287 shares during the last quarter. Polen Capital Management LLC grew its holdings in Zoetis by 17.6% in the first quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company’s stock worth $1,448,401,000 after purchasing an additional 1,313,653 shares during the last quarter. Northern Trust Corp grew its holdings in Zoetis by 1.2% in the first quarter. Northern Trust Corp now owns 6,504,902 shares of the company’s stock worth $1,071,032,000 after purchasing an additional 78,508 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Zoetis by 2.2% in the first quarter. Goldman Sachs Group Inc. now owns 5,146,024 shares of the company’s stock worth $847,293,000 after purchasing an additional 109,791 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings in Zoetis by 7.6% in the first quarter. Brown Advisory Inc. now owns 4,408,542 shares of the company’s stock worth $725,866,000 after purchasing an additional 312,746 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Down 0.3%

ZTS opened at $146.46 on Friday. Zoetis Inc. has a fifty-two week low of $139.34 and a fifty-two week high of $196.55. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. The company has a fifty day moving average of $149.89 and a two-hundred day moving average of $155.26. The stock has a market capitalization of $64.91 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 2.36 and a beta of 0.90.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.14. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Analysts Set New Price Targets

ZTS has been the subject of several research reports. Leerink Partnrs downgraded shares of Zoetis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Piper Sandler lifted their price objective on shares of Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, August 11th. Leerink Partners downgraded shares of Zoetis from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Argus reiterated a “buy” rating and set a $190.00 price objective on shares of Zoetis in a research note on Tuesday, September 9th. Finally, Stifel Nicolaus downgraded shares of Zoetis from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.88.

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.