IBM Retirement Fund Has $901,000 Holdings in Zoetis Inc (ZTS)

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IBM Retirement Fund trimmed its holdings in shares of Zoetis Inc (NYSE:ZTS) by 12.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,572 shares of the company’s stock after selling 1,556 shares during the period. IBM Retirement Fund’s holdings in Zoetis were worth $901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Polen Capital Management LLC boosted its holdings in shares of Zoetis by 125.3% during the first quarter. Polen Capital Management LLC now owns 8,943,633 shares of the company’s stock worth $746,883,000 after purchasing an additional 4,974,081 shares during the period. BlackRock Inc. boosted its holdings in shares of Zoetis by 6.7% during the first quarter. BlackRock Inc. now owns 41,069,741 shares of the company’s stock worth $3,429,736,000 after purchasing an additional 2,584,199 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Zoetis by 319.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,768,388 shares of the company’s stock worth $231,187,000 after purchasing an additional 2,109,036 shares during the period. Banque Pictet & Cie SA boosted its holdings in shares of Zoetis by 5,516.1% during the second quarter. Banque Pictet & Cie SA now owns 1,679,617 shares of the company’s stock worth $143,087,000 after purchasing an additional 1,649,710 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Zoetis by 22.3% during the second quarter. Janus Henderson Group PLC now owns 5,410,040 shares of the company’s stock worth $460,890,000 after purchasing an additional 985,586 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

In other Zoetis news, insider Catherine A. Knupp sold 46,816 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $90.84, for a total transaction of $4,252,765.44. Following the completion of the transaction, the insider now owns 81,640 shares of the company’s stock, valued at $7,416,177.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Glenn David sold 16,385 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $92.20, for a total transaction of $1,510,697.00. Following the transaction, the chief financial officer now directly owns 29,234 shares of the company’s stock, valued at approximately $2,695,374.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 213,467 shares of company stock valued at $19,488,185. 0.35% of the stock is owned by insiders.

A number of research firms have recently weighed in on ZTS. BMO Capital Markets reiterated a “hold” rating and set a $82.00 target price on shares of Zoetis in a report on Thursday, August 2nd. Cantor Fitzgerald set a $98.00 target price on shares of Zoetis and gave the stock a “buy” rating in a report on Friday, July 27th. Stifel Nicolaus increased their target price on shares of Zoetis from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Bank of America increased their target price on shares of Zoetis from $97.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 30th. Finally, Morgan Stanley increased their target price on shares of Zoetis from $87.00 to $92.00 and gave the stock a “hold” rating in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $90.53.

ZTS stock opened at $89.06 on Thursday. Zoetis Inc has a 1 year low of $62.79 and a 1 year high of $93.67. The stock has a market capitalization of $43.65 billion, a P/E ratio of 37.11, a P/E/G ratio of 1.86 and a beta of 1.02. The company has a quick ratio of 2.92, a current ratio of 4.38 and a debt-to-equity ratio of 2.50.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.06. Zoetis had a net margin of 19.95% and a return on equity of 72.30%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. Zoetis’s revenue was up 11.5% on a year-over-year basis. equities analysts anticipate that Zoetis Inc will post 3.07 earnings per share for the current fiscal year.

About Zoetis

Zoetis Inc discovers, develops, manufactures, and markets veterinary vaccines and medicines 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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