Strs Ohio raised its position in Zoetis Inc. (NYSE:ZTS) by 14.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 404,785 shares of the company’s stock after buying an additional 51,087 shares during the period. Strs Ohio owned about 0.08% of Zoetis worth $25,250,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Zoetis by 2,471.1% in the first quarter. BlackRock Inc. now owns 36,082,470 shares of the company’s stock worth $1,925,722,000 after buying an additional 34,679,064 shares during the last quarter. Vanguard Group Inc. increased its stake in Zoetis by 1.7% in the first quarter. Vanguard Group Inc. now owns 32,744,421 shares of the company’s stock worth $1,747,570,000 after buying an additional 546,287 shares during the last quarter. State Street Corp increased its stake in Zoetis by 4.9% in the first quarter. State Street Corp now owns 21,256,557 shares of the company’s stock worth $1,134,453,000 after buying an additional 986,680 shares during the last quarter. Morgan Stanley increased its stake in Zoetis by 182.5% in the first quarter. Morgan Stanley now owns 14,617,205 shares of the company’s stock worth $780,119,000 after buying an additional 9,442,207 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in Zoetis by 4.2% in the first quarter. Clearbridge Investments LLC now owns 9,254,662 shares of the company’s stock worth $493,921,000 after buying an additional 373,568 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.
Zoetis Inc. (NYSE ZTS) opened at 60.75 on Friday. The firm has a market capitalization of $29.71 billion, a PE ratio of 34.34 and a beta of 1.02. Zoetis Inc. has a 1-year low of $46.86 and a 1-year high of $63.85. The company’s 50-day moving average is $61.95 and its 200 day moving average is $58.24.
Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 8th. The company reported $0.53 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.53. Zoetis had a return on equity of 62.49% and a net margin of 17.50%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $0.49 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts expect that Zoetis Inc. will post $2.34 EPS for the current fiscal year.
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Several research firms have recently weighed in on ZTS. Cowen and Company set a $70.00 target price on shares of Zoetis and gave the stock a “buy” rating in a research report on Monday, July 17th. BMO Capital Markets downgraded shares of Zoetis from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $64.00 to $65.00 in a research report on Tuesday, June 13th. They noted that the move was a valuation call. Cantor Fitzgerald set a $75.00 price objective on shares of Zoetis and gave the company a “buy” rating in a research report on Monday, August 14th. Jefferies Group LLC boosted their price objective on shares of Zoetis from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Finally, CL King began coverage on shares of Zoetis in a research report on Friday, May 26th. They set a “buy” rating and a $71.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $64.78.
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.
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