Independent Franchise Partners LLP Cuts Stake in Zoetis Inc. (ZTS)

Independent Franchise Partners LLP cut its position in shares of Zoetis Inc. (NYSE:ZTS) by 22.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,638,349 shares of the company’s stock after selling 2,565,309 shares during the period. Zoetis makes up about 4.8% of Independent Franchise Partners LLP’s holdings, making the stock its 11th largest position. Independent Franchise Partners LLP owned approximately 1.76% of Zoetis worth $538,860,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Macquarie Group Ltd. boosted its stake in shares of Zoetis by 13.2% in the fourth quarter. Macquarie Group Ltd. now owns 144,492 shares of the company’s stock worth $7,734,000 after buying an additional 16,860 shares during the last quarter. Atalanta Sosnoff Capital LLC boosted its stake in shares of Zoetis by 39.1% in the first quarter. Atalanta Sosnoff Capital LLC now owns 778,212 shares of the company’s stock worth $41,533,000 after buying an additional 218,905 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Zoetis by 2.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 426,303 shares of the company’s stock worth $22,751,000 after buying an additional 10,744 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Zoetis by 1.9% in the first quarter. CENTRAL TRUST Co now owns 2,664 shares of the company’s stock worth $142,000 after buying an additional 49 shares during the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of Zoetis by 35.8% in the first quarter. Fulton Bank N.A. now owns 5,554 shares of the company’s stock worth $296,000 after buying an additional 1,463 shares during the last quarter. 94.51% of the stock is owned by institutional investors and hedge funds.

Zoetis Inc. (NYSE:ZTS) traded down 0.02% during mid-day trading on Friday, hitting $59.73. 2,285,863 shares of the stock traded hands. The stock has a 50 day moving average price of $62.20 and a 200 day moving average price of $58.00. Zoetis Inc. has a 12-month low of $46.86 and a 12-month high of $63.85. The firm has a market cap of $29.21 billion, a PE ratio of 33.76 and a beta of 1.02.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 8th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Zoetis had a net margin of 17.50% and a return on equity of 62.49%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. On average, analysts expect that Zoetis Inc. will post $2.34 earnings per share for the current fiscal year.

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A number of equities research analysts have recently commented on ZTS shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 target price on shares of Zoetis in a report on Thursday, May 4th. Jefferies Group LLC upped their target price on shares of Zoetis from $65.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. Zacks Investment Research raised shares of Zoetis from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Wednesday, May 10th. Credit Suisse Group boosted their price target on shares of Zoetis from $61.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 24th. Finally, CL King began coverage on shares of Zoetis in a research note on Friday, May 26th. They set a “buy” rating and a $71.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. Zoetis has a consensus rating of “Buy” and an average price target of $64.78.

Zoetis Company Profile

Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.

Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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