State of New Jersey Common Pension Fund D Has $29.27 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

State of New Jersey Common Pension Fund D cut its holdings in Zoetis Inc. (NYSE:ZTS) by 35.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 168,823 shares of the company’s stock after selling 93,766 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Zoetis were worth $29,267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in Zoetis during the fourth quarter worth $980,646,000. Price T Rowe Associates Inc. MD boosted its position in shares of Zoetis by 31.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares in the last quarter. Sarasin & Partners LLP grew its stake in shares of Zoetis by 546.3% in the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after buying an additional 1,904,899 shares during the period. Swedbank AB bought a new stake in Zoetis in the 1st quarter valued at about $210,815,000. Finally, Public Employees Retirement Association of Colorado bought a new position in Zoetis in the fourth quarter worth approximately $242,757,000. 92.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZTS. Piper Sandler boosted their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus restated a “buy” rating and set a $200.00 price target on shares of Zoetis in a research note on Tuesday, August 27th. BTIG Research raised their price objective on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $217.11.

Zoetis Stock Up 0.4 %

ZTS opened at $190.71 on Friday. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The company’s 50-day moving average is $182.52 and its 200 day moving average is $174.54. The firm has a market capitalization of $86.40 billion, a P/E ratio of 36.75, a PEG ratio of 2.90 and a beta of 0.88.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 EPS. Research analysts expect that Zoetis Inc. will post 5.84 earnings per share for the current fiscal year.

About Zoetis

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.