Arcadia Investment Management Corp MI Sells 5,125 Shares of Zoetis Inc. (NYSE:ZTS)

Arcadia Investment Management Corp MI lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 35.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,415 shares of the company’s stock after selling 5,125 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Zoetis were worth $1,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Webster Bank N. A. boosted its position in Zoetis by 89.1% during the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Private Wealth Management Group LLC purchased a new stake in Zoetis in the fourth quarter valued at about $33,000. Gladius Capital Management LP purchased a new stake in Zoetis in the fourth quarter valued at about $40,000. Neo Ivy Capital Management purchased a new stake in Zoetis in the fourth quarter valued at about $40,000. Finally, LRI Investments LLC purchased a new stake in Zoetis in the first quarter valued at about $43,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

ZTS stock traded up $0.67 during trading on Friday, hitting $187.26. 236,624 shares of the company traded hands, compared to its average volume of 2,647,232. The stock’s 50-day simple moving average is $180.90 and its 200 day simple moving average is $174.57. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The company has a market cap of $84.84 billion, a PE ratio of 35.95, a P/E/G ratio of 2.87 and a beta of 0.88. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results 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 company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the business earned $1.41 earnings per share. Zoetis’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect that Zoetis Inc. will post 5.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on ZTS. Stifel Nicolaus reiterated a “buy” rating and issued a $200.00 price target on shares of Zoetis in a research note on Tuesday, August 27th. BTIG Research raised their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Piper Sandler raised their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Zoetis presently has an average rating of “Buy” and an average target price 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.