Sterling Capital Management LLC Raises Position in Zoetis Inc (NYSE:ZTS)

Sterling Capital Management LLC lifted its holdings in Zoetis Inc (NYSE:ZTS) by 38.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 33,145 shares of the company’s stock after buying an additional 9,204 shares during the period. Sterling Capital Management LLC’s holdings in Zoetis were worth $3,762,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Zoetis by 12.2% in the first quarter. FMR LLC now owns 8,127,931 shares of the company’s stock worth $818,239,000 after buying an additional 882,183 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Zoetis by 2.2% in the first quarter. BlackRock Inc. now owns 37,486,408 shares of the company’s stock valued at $3,773,759,000 after purchasing an additional 795,558 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Zoetis by 12.8% in the first quarter. American Century Companies Inc. now owns 4,539,546 shares of the company’s stock valued at $456,996,000 after purchasing an additional 513,924 shares in the last quarter. Close Asset Management Ltd acquired a new position in shares of Zoetis in the first quarter valued at approximately $47,140,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Zoetis by 9.5% in the second quarter. Bank of New York Mellon Corp now owns 4,420,261 shares of the company’s stock valued at $501,654,000 after purchasing an additional 383,799 shares in the last quarter. Hedge funds and other institutional investors own 90.09% of the company’s stock.

A number of brokerages recently weighed in on ZTS. Argus set a $140.00 price objective 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 report on Wednesday, June 12th. Bank of America downgraded shares of Zoetis from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $111.00 to $120.00 in a research note on Monday, July 1st. They noted that the move was a valuation call. Barclays lifted their price target on shares of Zoetis from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Guggenheim assumed coverage on shares of Zoetis in a research note on Thursday, May 23rd. They issued a “buy” rating and a $114.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Zoetis has a consensus rating of “Buy” and an average target price of $120.94.



In other news, EVP Roxanne Lagano sold 4,463 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $125.99, for a total transaction of $562,293.37. Following the completion of the sale, the executive vice president now owns 33,190 shares in the company, valued at approximately $4,181,608.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Clinton A. Jr. Lewis sold 6,123 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $113.09, for a total transaction of $692,450.07. Following the sale, the insider now owns 46,812 shares of the company’s stock, valued at approximately $5,293,969.08. The disclosure for this sale can be found here. Insiders have sold a total of 34,332 shares of company stock valued at $4,163,091 in the last 90 days. Insiders own 0.29% of the company’s stock.

Zoetis stock traded up $1.41 during trading on Thursday, reaching $124.65. The stock had a trading volume of 691,516 shares, compared to its average volume of 2,032,704. The stock has a market cap of $57.14 billion, a PE ratio of 39.82, a P/E/G ratio of 3.02 and a beta of 0.87. The company has a quick ratio of 2.87, a current ratio of 4.17 and a debt-to-equity ratio of 2.74. Zoetis Inc has a 52-week low of $78.90 and a 52-week high of $130.08. The business has a 50 day moving average price of $123.46 and a 200 day moving average price of $109.60.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.08. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. Zoetis had a net margin of 22.74% and a return on equity of 72.86%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. On average, equities analysts predict that Zoetis Inc will post 3.57 EPS for the current fiscal year.

Zoetis Company Profile

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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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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