Canada Pension Plan Investment Board Purchases 49,386 Shares of Zoetis Inc. (NYSE:ZTS)

Canada Pension Plan Investment Board grew its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 7.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 688,738 shares of the company’s stock after buying an additional 49,386 shares during the period. Canada Pension Plan Investment Board owned 0.15% of Zoetis worth $119,400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZTS. Price T Rowe Associates Inc. MD grew its holdings in Zoetis by 31.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares during the period. Sarasin & Partners LLP increased its position in Zoetis by 546.3% during the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after buying an additional 1,904,899 shares in the last quarter. Swedbank AB purchased a new position in Zoetis during the first quarter valued at $210,815,000. Public Employees Retirement Association of Colorado bought a new stake in Zoetis in the fourth quarter worth $242,757,000. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Zoetis by 122.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,448,665 shares of the company’s stock worth $285,923,000 after acquiring an additional 797,884 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ZTS. BTIG Research lifted their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Piper Sandler raised their price target on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus boosted their price objective on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $220.38.

Zoetis Price Performance

NYSE ZTS opened at $192.73 on Friday. The stock has a market capitalization of $87.94 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 2.98 and a beta of 0.88. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The business’s fifty day moving average price is $184.70 and its 200-day moving average price is $174.47.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. Zoetis’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 earnings per share. On average, equities analysts predict that Zoetis Inc. will post 5.84 earnings per share for the current year.

Zoetis Profile

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.