Pitcairn Co. Buys New Stake in Zoetis Inc. (ZTS)
Pitcairn Co. bought a new stake in shares of Zoetis Inc. (NYSE:ZTS) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 60,519 shares of the company’s stock, valued at approximately $3,775,000. Zoetis accounts for 0.5% of Pitcairn Co.’s portfolio, making the stock its 23rd largest position.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Zoetis by 2,471.1% in the first quarter. BlackRock Inc. now owns 36,082,470 shares of the company’s stock valued at $1,925,722,000 after buying an additional 34,679,064 shares during the period. Vanguard Group Inc. increased its stake in shares of Zoetis by 1.7% in the first quarter. Vanguard Group Inc. now owns 32,744,421 shares of the company’s stock valued at $1,747,570,000 after buying an additional 546,287 shares during the period. State Street Corp increased its stake in shares of Zoetis by 4.9% in the first quarter. State Street Corp now owns 21,256,557 shares of the company’s stock valued at $1,134,453,000 after buying an additional 986,680 shares during the period. Morgan Stanley increased its stake in shares of Zoetis by 182.5% in the first quarter. Morgan Stanley now owns 14,617,205 shares of the company’s stock valued at $780,119,000 after buying an additional 9,442,207 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of Zoetis by 4.2% in the first quarter. Clearbridge Investments LLC now owns 9,254,662 shares of the company’s stock valued at $493,921,000 after buying an additional 373,568 shares during the period. 94.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Zoetis Inc. (NYSE ZTS) opened at 59.73 on Friday. Zoetis Inc. has a 12-month low of $46.86 and a 12-month high of $63.85. The firm has a market capitalization of $29.21 billion, a PE ratio of 33.76 and a beta of 1.02. The company’s 50-day moving average price is $62.20 and its 200 day moving average price is $58.00.
Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. Zoetis had a return on equity of 62.49% and a net margin of 17.50%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. Zoetis’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts forecast that Zoetis Inc. will post $2.34 earnings per share for the current year.
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Several brokerages have issued reports on ZTS. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $62.00 price target on shares of Zoetis in a report on Monday, August 7th. Cowen and Company set a $70.00 price objective on Zoetis and gave the stock a “buy” rating in a report on Monday, July 17th. Cantor Fitzgerald began coverage on Zoetis in a report on Friday, June 16th. They set an “overweight” rating and a $75.00 price objective for the company. Deutsche Bank AG downgraded Zoetis from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a report on Tuesday, July 25th. Finally, Jefferies Group LLC increased their price objective on Zoetis from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price 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.
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