California Public Employees Retirement System grew its holdings in shares of Zoetis Inc (NYSE:ZTS) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,295,752 shares of the company’s stock after purchasing an additional 55,852 shares during the quarter. California Public Employees Retirement System owned approximately 0.27% of Zoetis worth $82,617,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Tortoise Investment Management LLC raised its position in Zoetis by 6,250.0% in the third quarter. Tortoise Investment Management LLC now owns 3,302 shares of the company’s stock valued at $211,000 after purchasing an additional 3,250 shares during the period. Janney Montgomery Scott LLC grew its stake in Zoetis by 4.8% in the third quarter. Janney Montgomery Scott LLC now owns 106,576 shares of the company’s stock worth $6,795,000 after purchasing an additional 4,927 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Zoetis by 52.6% in the third quarter. Point72 Asset Management L.P. now owns 720,600 shares of the company’s stock worth $45,945,000 after purchasing an additional 248,500 shares in the last quarter. Zions Bancorporation boosted its stake in Zoetis by 16,720.0% in the third quarter. Zions Bancorporation now owns 10,092 shares of the company’s stock valued at $643,000 after acquiring an additional 10,032 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Zoetis by 1.5% in the third quarter. Janus Henderson Group PLC now owns 5,893,853 shares of the company’s stock valued at $375,792,000 after acquiring an additional 84,767 shares during the period. 93.33% of the stock is currently owned by institutional investors.
Zoetis Inc (NYSE:ZTS) traded down $0.11 during midday trading on Tuesday, hitting $71.77. 1,172,500 shares of the stock were exchanged, compared to its average volume of 2,760,692. The company has a current ratio of 2.80, a quick ratio of 1.95 and a debt-to-equity ratio of 2.45. The firm has a market cap of $35,026.28, a PE ratio of 32.97, a PEG ratio of 2.15 and a beta of 1.06. Zoetis Inc has a one year low of $50.57 and a one year high of $72.79.
Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Zoetis had a net margin of 18.29% and a return on equity of 62.39%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 EPS. equities analysts anticipate that Zoetis Inc will post 2.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 9th were given a dividend of $0.105 per share. The ex-dividend date was Wednesday, November 8th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.59%. Zoetis’s payout ratio is presently 22.11%.
A number of equities research analysts have recently weighed in on ZTS shares. Cantor Fitzgerald set a $75.00 price target on Zoetis and gave the company a “buy” rating in a report on Monday, August 14th. BidaskClub lowered shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 20th. BMO Capital Markets lifted their price objective on shares of Zoetis from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Friday, November 3rd. Piper Jaffray Companies set a $73.00 price objective on shares of Zoetis and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Cowen set a $70.00 price target on shares of Zoetis and gave the company a “buy” rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $68.53.
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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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