Tributary Capital Management LLC Decreases Stake in Zoetis Inc. (NYSE:ZTS)

Tributary Capital Management LLC lowered its holdings in Zoetis Inc. (NYSE:ZTS) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,002 shares of the company’s stock after selling 128 shares during the quarter. Tributary Capital Management LLC’s holdings in Zoetis were worth $520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Capital Insight Partners LLC raised its stake in shares of Zoetis by 2.1% in the second quarter. Capital Insight Partners LLC now owns 5,211 shares of the company’s stock worth $903,000 after purchasing an additional 105 shares during the last quarter. LRI Investments LLC raised its stake in shares of Zoetis by 219.6% in the second quarter. LRI Investments LLC now owns 815 shares of the company’s stock worth $141,000 after purchasing an additional 560 shares during the last quarter. EdgeRock Capital LLC bought a new stake in shares of Zoetis in the second quarter worth $56,000. Family Firm Inc. bought a new stake in shares of Zoetis in the second quarter worth $74,000. Finally, Grove Bank & Trust grew its holdings in shares of Zoetis by 39.6% in the second quarter. Grove Bank & Trust now owns 11,702 shares of the company’s stock worth $2,029,000 after acquiring an additional 3,321 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Ratings Changes

ZTS has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on Zoetis from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group cut 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. BTIG Research lifted their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. HSBC cut their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Piper Sandler lifted their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and an average price target of $217.11.

Zoetis Stock Performance

NYSE:ZTS traded down $1.27 during mid-day 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 stock’s fifty day moving average price is $178.56 and its 200-day moving average price is $175.08. Zoetis Inc. has a one year low of $144.80 and a one year 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. The firm has a market cap of $81.96 billion, a price-to-earnings ratio of 34.87, a price-to-earnings-growth ratio of 2.79 and a beta of 0.86.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 earnings per share. Research analysts anticipate that Zoetis Inc. will post 5.84 earnings per share for the current fiscal year.

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.