Nippon Life Insurance Co. reduced its stake in shares of Zoetis Inc. (NYSE:ZTS) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,693 shares of the company’s stock after selling 1,517 shares during the period. Nippon Life Insurance Co.’s holdings in Zoetis were worth $1,540,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in 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 during the last quarter. Vanguard Group Inc. increased its position in 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 during the last quarter. State Street Corp increased its position in 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 during the last quarter. Morgan Stanley increased its position in 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 during the last quarter. Finally, Clearbridge Investments LLC increased its position in 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 during the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Zoetis Inc. (NYSE:ZTS) opened at 60.75 on Friday. The firm has a market capitalization of $29.71 billion, a PE ratio of 34.34 and a beta of 1.02. Zoetis Inc. has a 52-week low of $46.86 and a 52-week high of $63.85. The stock’s 50 day moving average price is $61.95 and its 200-day moving average price is $58.24.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 8th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. Zoetis had a net margin of 17.50% and a return on equity of 62.49%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Zoetis Inc. will post $2.34 EPS for the current fiscal year.

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ZTS has been the topic of several research reports. Jefferies Group LLC upped their target price on Zoetis from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Cantor Fitzgerald set a $75.00 target price on Zoetis and gave the company a “buy” rating in a research report on Monday, August 14th. Argus reissued a “buy” rating and issued a $69.00 target price (up from $60.00) on shares of Zoetis in a research report on Tuesday, May 30th. CL King began coverage on Zoetis in a research report on Friday, May 26th. They issued a “buy” rating and a $71.00 target price on the stock. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $65.00 price target (up from $62.00) on shares of Zoetis in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price 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.

Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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