State Farm Mutual Automobile Insurance Co. maintained its stake in shares of Zoetis Inc. (NYSE:ZTS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,124,444 shares of the company’s stock at the close of the second quarter. Zoetis accounts for about 1.6% of State Farm Mutual Automobile Insurance Co.’s holdings, making the stock its 18th biggest position. State Farm Mutual Automobile Insurance Co. owned 3.90% of Zoetis worth $1,192,982,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Gladstone Capital Management LLP bought a new position in shares of Zoetis during the second quarter worth about $3,134,000. Harbour Capital Advisors LLC lifted its position in shares of Zoetis by 19.8% during the first quarter. Harbour Capital Advisors LLC now owns 20,005 shares of the company’s stock worth $1,068,000 after purchasing an additional 3,300 shares during the last quarter. Hermes Investment Management Ltd. lifted its position in shares of Zoetis by 80.3% during the second quarter. Hermes Investment Management Ltd. now owns 236,350 shares of the company’s stock worth $14,744,000 after purchasing an additional 105,276 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Zoetis by 21.1% during the first quarter. Ameriprise Financial Inc. now owns 1,614,416 shares of the company’s stock worth $86,167,000 after purchasing an additional 281,139 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Zoetis by 8.2% during the second quarter. Wells Fargo & Company MN now owns 5,113,948 shares of the company’s stock worth $319,008,000 after purchasing an additional 389,260 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.
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ZTS has been the topic of several research analyst reports. Cantor Fitzgerald set a $75.00 price target on shares of Zoetis and gave the stock a “buy” rating in a research report on Monday, August 14th. Stifel Nicolaus reiterated a “buy” rating and set a $65.00 price objective on shares of Zoetis in a research note on Friday, September 1st. Argus reiterated a “buy” rating and set a $69.00 price objective (up previously from $60.00) on shares of Zoetis in a research note on Tuesday, May 30th. CL King began coverage on shares of Zoetis in a research note on Friday, May 26th. They set a “buy” rating and a $71.00 price objective on the stock. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $65.00 price objective (up previously from $62.00) on shares of Zoetis in a research note on Monday, July 17th. 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. Zoetis has a consensus rating of “Buy” and a consensus price target of $65.44.
Shares of Zoetis Inc. (NYSE:ZTS) traded down 0.20% during midday trading on Friday, hitting $64.72. 465,866 shares of the company’s stock traded hands. The company has a 50 day moving average price of $61.81 and a 200 day moving average price of $58.93. Zoetis Inc. has a 1-year low of $46.86 and a 1-year high of $65.12. The firm has a market capitalization of $31.66 billion, a price-to-earnings ratio of 36.59 and a beta of 1.02.
Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.53. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Zoetis had a net margin of 17.50% and a return on equity of 62.49%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. Equities analysts anticipate that Zoetis Inc. will post $2.34 earnings per share for the current year.
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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