Parametric Portfolio Associates LLC Grows Holdings in Zoetis Inc (NYSE:ZTS)
Parametric Portfolio Associates LLC raised its holdings in shares of Zoetis Inc (NYSE:ZTS) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,492,316 shares of the company’s stock after purchasing an additional 26,057 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.31% of Zoetis worth $169,363,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. MUFG Securities EMEA plc bought a new stake in shares of Zoetis in the second quarter valued at approximately $2,630,000. MML Investors Services LLC lifted its stake in shares of Zoetis by 3.2% in the 2nd quarter. MML Investors Services LLC now owns 45,337 shares of the company’s stock valued at $5,145,000 after purchasing an additional 1,400 shares during the period. Toronto Dominion Bank lifted its stake in shares of Zoetis by 1.4% in the 2nd quarter. Toronto Dominion Bank now owns 339,034 shares of the company’s stock valued at $38,466,000 after purchasing an additional 4,632 shares during the period. Haverford Trust Co. acquired a new stake in Zoetis during the second quarter worth approximately $397,000. Finally, Natixis increased its holdings in Zoetis by 147.1% in the second quarter. Natixis now owns 547,078 shares of the company’s stock worth $62,088,000 after purchasing an additional 325,661 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the stock. Stifel Nicolaus raised their price target on shares of Zoetis from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Argus set a $140.00 target price on shares of Zoetis and gave the company a “buy” rating in a report on Wednesday, September 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price objective (up previously from $116.00) on shares of Zoetis in a research note on Wednesday, June 12th. SunTrust Banks boosted their price target on shares of Zoetis from $120.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Finally, Barclays increased their target price on shares of Zoetis from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Zoetis has an average rating of “Buy” and a consensus price target of $120.31.
Shares of ZTS traded down $2.66 during trading hours on Wednesday, hitting $120.37. The stock had a trading volume of 172,752 shares, compared to its average volume of 1,682,362. Zoetis Inc has a 12-month low of $78.90 and a 12-month high of $130.08. The firm has a market cap of $60.49 billion, a P/E ratio of 38.40, a P/E/G ratio of 3.20 and a beta of 0.87. The company has a debt-to-equity ratio of 2.74, a quick ratio of 2.87 and a current ratio of 4.17. The company’s fifty day simple moving average is $122.57 and its 200 day simple moving average is $108.65.
Zoetis (NYSE:ZTS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.08. Zoetis had a net margin of 22.74% and a return on equity of 72.86%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. Zoetis’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that Zoetis Inc will post 3.57 earnings per share for the current fiscal year.
Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.
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