Pitcairn Co. Acquires New Position in Zoetis Inc. (ZTS)
Pitcairn Co. acquired a new stake in shares of Zoetis Inc. (NYSE:ZTS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 60,519 shares of the company’s stock, valued at approximately $3,775,000. Zoetis accounts for approximately 0.5% of Pitcairn Co.’s investment portfolio, making the stock its 23rd largest position.
A number of other hedge funds have also recently modified their holdings of the stock. Assetmark Inc. increased its stake in shares of Zoetis by 4.6% in the first quarter. Assetmark Inc. now owns 1,918 shares of the company’s stock valued at $102,000 after buying an additional 85 shares during the period. Guardian Life Insurance Co. of America increased its stake in shares of Zoetis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,905 shares of the company’s stock valued at $102,000 after buying an additional 13 shares during the period. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Zoetis during the first quarter valued at about $111,000. Advisory Services Network LLC purchased a new stake in shares of Zoetis during the first quarter valued at about $112,000. Finally, First Interstate Bank increased its stake in shares of Zoetis by 3.5% in the first quarter. First Interstate Bank now owns 2,250 shares of the company’s stock valued at $120,000 after buying an additional 76 shares during the period. 94.51% of the stock is owned by institutional investors.
Shares of Zoetis Inc. (NYSE:ZTS) opened at 59.73 on Friday. Zoetis Inc. has a 52 week low of $46.86 and a 52 week high of $63.85. The company’s 50 day moving average is $62.20 and its 200-day moving average is $58.00. The company has a market capitalization of $29.21 billion, a PE ratio of 33.76 and a beta of 1.02.
Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Zoetis had a return on equity of 62.49% and a net margin of 17.50%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 earnings per share. On average, analysts expect that Zoetis Inc. will post $2.34 EPS for the current fiscal year.
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Several brokerages have issued reports on ZTS. Hilliard Lyons began coverage on shares of Zoetis in a research report on Tuesday, June 20th. They issued a “buy” rating and a $77.00 price objective for the company. Credit Suisse Group raised their price target on shares of Zoetis from $61.00 to $67.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 24th. Zacks Investment Research raised shares of Zoetis from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $62.00 price target on shares of Zoetis in a research report on Monday, August 7th. Finally, Cowen and Company set a $70.00 price target on shares of Zoetis and gave the stock a “buy” rating in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $64.78.
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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