Nomura Asset Management Co. Ltd. trimmed its position in Zoetis Inc (NYSE:ZTS) by 22.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 329,738 shares of the company’s stock after selling 92,735 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.07% of Zoetis worth $37,422,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Zoetis by 14.4% during the 4th quarter. Geode Capital Management LLC now owns 6,227,976 shares of the company’s stock valued at $531,801,000 after acquiring an additional 785,088 shares during the period. Cornerstone Advisors Inc. grew its position in shares of Zoetis by 11.8% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,099 shares of the company’s stock valued at $111,000 after acquiring an additional 116 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its position in shares of Zoetis by 17.7% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 73,516 shares of the company’s stock valued at $7,400,000 after acquiring an additional 11,063 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its position in shares of Zoetis by 22.0% during the 1st quarter. Gerber Kawasaki Wealth & Investment Management now owns 7,754 shares of the company’s stock valued at $780,000 after acquiring an additional 1,400 shares during the period. Finally, Asahi Life Asset Management CO. LTD. bought a new position in shares of Zoetis during the 1st quarter valued at approximately $634,000. 90.25% of the stock is owned by institutional investors and hedge funds.
In other Zoetis news, insider Clinton A. Jr. Lewis sold 6,123 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $113.09, for a total value of $692,450.07. Following the sale, the insider now directly owns 46,812 shares in the company, valued at approximately $5,293,969.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kristin C. Peck sold 11,500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $123.22, for a total transaction of $1,417,030.00. Following the completion of the sale, the executive vice president now owns 48,877 shares in the company, valued at $6,022,623.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,209 shares of company stock valued at $3,428,025. 0.29% of the stock is owned by insiders.
Zoetis (NYSE:ZTS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.08. The company 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%. Zoetis’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.77 EPS. Equities analysts predict that Zoetis Inc will post 3.57 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on ZTS. Bank of America downgraded shares of Zoetis from a “buy” rating to a “neutral” rating and increased their target price for the company from $111.00 to $120.00 in a research report on Monday, July 1st. They noted that the move was a valuation call. Credit Suisse Group reissued a “buy” rating and set a $130.00 target price on shares of Zoetis in a research report on Wednesday. Argus set a $140.00 target price on shares of Zoetis and gave the company a “buy” rating in a research report on Wednesday, September 4th. Stifel Nicolaus increased their target price on shares of Zoetis from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Craig Hallum increased their target price on shares of Zoetis from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Seven equities 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. The company currently has a consensus rating of “Buy” and an average target price of $120.31.
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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