Schwab Charles Investment Management Inc. Boosts Stake in Zoetis Inc. (ZTS)

Schwab Charles Investment Management Inc. increased its position in Zoetis Inc. (NYSE:ZTS) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,595,919 shares of the company’s stock after buying an additional 101,287 shares during the period. Schwab Charles Investment Management Inc. owned 0.33% of Zoetis worth $99,554,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised 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 worth $1,925,722,000 after buying an additional 34,679,064 shares during the period. Vanguard Group Inc. raised 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 worth $1,747,570,000 after buying an additional 546,287 shares during the period. State Street Corp raised 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 worth $1,134,453,000 after buying an additional 986,680 shares during the period. Morgan Stanley raised 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 worth $780,119,000 after buying an additional 9,442,207 shares during the period. Finally, Clearbridge Investments LLC raised 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 worth $493,921,000 after buying an additional 373,568 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Shares of Zoetis Inc. (NYSE ZTS) opened at 60.90 on Friday. The firm has a market capitalization of $29.79 billion, a P/E ratio of 34.43 and a beta of 1.02. The firm has a 50-day moving average of $62.00 and a 200 day moving average of $58.20. Zoetis Inc. has a 52 week low of $46.86 and a 52 week high of $63.85.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.53 EPS for the quarter, meeting the Zacks’ 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 the consensus estimate of $1.27 billion. During the same period in the prior year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts expect 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 lifted their price objective on shares of Zoetis from $65.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. Cantor Fitzgerald set a $75.00 price objective on shares of Zoetis and gave the company a “buy” rating in a report on Monday. Argus reissued a “buy” rating and set a $69.00 price objective (up from $60.00) on shares of Zoetis in a report on Tuesday, May 30th. CL King initiated coverage on shares of Zoetis in a report on Friday, May 26th. They set a “buy” rating and a $71.00 price objective on the stock. Finally, Deutsche Bank AG reissued a “buy” rating and set a $65.00 price objective (up from $62.00) on shares of Zoetis in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Zoetis presently 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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