Zoetis Inc. (NYSE:ZTS) Holdings Cut by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund decreased its position in shares of Zoetis Inc. (NYSE:ZTS) by 0.2% in the second quarter, Holdings Channel.com reports. The firm owned 39,204 shares of the company’s stock after selling 90 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Zoetis were worth $6,796,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ZTS. Vanguard Group Inc. boosted its holdings in shares of Zoetis by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock worth $6,895,235,000 after buying an additional 414,605 shares during the period. Price T Rowe Associates Inc. MD increased its position in Zoetis by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after acquiring an additional 3,244,074 shares during the period. Capital World Investors boosted its holdings in Zoetis by 0.6% in the 4th quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock valued at $1,788,988,000 after purchasing an additional 57,798 shares during the period. Norges Bank bought a new position in shares of Zoetis during the 4th quarter worth about $980,646,000. Finally, Bank of New York Mellon Corp grew its position in Zoetis by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock worth $812,695,000 after buying an additional 178,303 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ZTS. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Piper Sandler upped their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus reissued a “buy” rating and issued a $200.00 price objective on shares of Zoetis in a research note on Tuesday, August 27th. HSBC dropped their target price on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, BTIG Research increased their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $217.11.

Zoetis Stock Up 0.0 %

Zoetis stock opened at $183.57 on Wednesday. The company’s 50-day moving average is $180.37 and its 200-day moving average is $174.39. The firm has a market capitalization of $83.17 billion, a PE ratio of 35.37, a P/E/G ratio of 2.81 and a beta of 0.88. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92.

Zoetis (NYSE:ZTS) last released 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 net margin of 26.29% and a return on equity of 50.67%. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the firm earned $1.41 EPS. The business’s revenue was up 8.3% on a year-over-year basis. Sell-side analysts anticipate that Zoetis Inc. will post 5.84 earnings per share for the current 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.