Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lowered its stake in Zoetis Inc. (NYSE:ZTS) by 4.5% during the second quarter, Holdings Channel reports. The institutional investor owned 79,470 shares of the company’s stock after selling 3,708 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Zoetis were worth $4,957,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Zoetis by 2,471.1% in the first quarter. BlackRock Inc. now owns 36,082,470 shares of the company’s stock valued at $1,925,722,000 after buying an additional 34,679,064 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Zoetis by 1.7% in the first quarter. Vanguard Group Inc. now owns 32,744,421 shares of the company’s stock valued at $1,747,570,000 after buying an additional 546,287 shares in the last quarter. State Street Corp boosted its position in shares of Zoetis by 4.9% in the first quarter. State Street Corp now owns 21,256,557 shares of the company’s stock valued at $1,134,453,000 after buying an additional 986,680 shares in the last quarter. Morgan Stanley boosted its position in shares of Zoetis by 182.5% in the first quarter. Morgan Stanley now owns 14,617,205 shares of the company’s stock valued at $780,119,000 after buying an additional 9,442,207 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Zoetis by 4.2% in the first quarter. Clearbridge Investments LLC now owns 9,254,662 shares of the company’s stock valued at $493,921,000 after buying an additional 373,568 shares in the last quarter. 94.51% of the stock is currently owned by institutional investors.

Shares of Zoetis Inc. (NYSE:ZTS) opened at 59.73 on Friday. The firm has a market cap of $29.21 billion, a price-to-earnings ratio of 33.76 and a beta of 1.02. The firm has a 50-day moving average of $62.20 and a 200-day moving average of $58.00. Zoetis Inc. has a 12 month low of $46.86 and a 12 month high of $63.85.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.53 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.53. Zoetis had a net margin of 17.50% and a return on equity of 62.49%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company earned $0.49 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts anticipate that Zoetis Inc. will post $2.34 EPS for the current year.

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Several analysts recently issued reports on ZTS shares. Deutsche Bank AG reiterated a “buy” rating and set a $65.00 price target (up previously from $62.00) on shares of Zoetis in a research report on Monday, July 17th. BMO Capital Markets reiterated a “buy” rating and set a $60.00 price target on shares of Zoetis in a research report on Thursday, May 4th. Zacks Investment Research upgraded shares of Zoetis from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Wednesday, May 10th. Argus reiterated a “buy” rating and set a $69.00 price target (up previously from $60.00) on shares of Zoetis in a research report on Tuesday, May 30th. Finally, Hilliard Lyons started coverage on shares of Zoetis in a research report on Tuesday, June 20th. They set a “buy” rating and a $77.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $64.78.

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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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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