Canada Pension Plan Investment Board Cuts Holdings in Zoetis Inc. (ZTS)

Canada Pension Plan Investment Board decreased its position in Zoetis Inc. (NYSE:ZTS) by 67.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 24,909 shares of the company’s stock after selling 51,400 shares during the period. Canada Pension Plan Investment Board’s holdings in Zoetis were worth $1,588,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZTS. Northwestern Mutual Wealth Management Co. increased its position in shares of Zoetis by 16.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,598 shares of the company’s stock worth $100,000 after purchasing an additional 230 shares during the last quarter. Harfst & Associates Inc. increased its position in shares of Zoetis by 16.1% during the 2nd quarter. Harfst & Associates Inc. now owns 1,878 shares of the company’s stock worth $117,000 after purchasing an additional 260 shares during the last quarter. Almanack Investment Partners LLC. acquired a new position in shares of Zoetis during the 2nd quarter worth approximately $119,000. Peddock Capital Advisors LLC acquired a new position in shares of Zoetis during the 2nd quarter worth approximately $140,000. Finally, Parallel Advisors LLC increased its position in shares of Zoetis by 41.1% during the 2nd quarter. Parallel Advisors LLC now owns 2,263 shares of the company’s stock worth $141,000 after purchasing an additional 659 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Several research analysts have weighed in on ZTS shares. BMO Capital Markets reaffirmed a “hold” rating and set a $65.00 price target on shares of Zoetis in a research report on Thursday, November 2nd. Cantor Fitzgerald set a $75.00 target price on Zoetis and gave the stock a “buy” rating in a report on Monday, August 14th. Cowen and Company set a $80.00 target price on Zoetis and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus reissued a “buy” rating and set a $65.00 target price on shares of Zoetis in a report on Friday, September 1st. Finally, BidaskClub lowered Zoetis from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.65.

Shares of Zoetis Inc. (NYSE:ZTS) opened at $70.79 on Friday. The company has a current ratio of 2.80, a quick ratio of 1.95 and a debt-to-equity ratio of 2.45. Zoetis Inc. has a 1 year low of $48.55 and a 1 year high of $71.12. The firm has a market capitalization of $34,495.12, a price-to-earnings ratio of 32.47, a P/E/G ratio of 2.07 and a beta of 1.02.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. Zoetis had a return on equity of 62.39% and a net margin of 18.29%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company earned $0.52 EPS. Zoetis’s revenue for the quarter was up 8.5% on a year-over-year basis. analysts predict that Zoetis Inc. will post 2.37 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 9th will be issued a $0.105 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.42 dividend on an annualized basis and a yield of 0.59%. Zoetis’s payout ratio is presently 22.11%.

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About Zoetis

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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