Mercer Global Advisors Inc. ADV Increases Stake in Zoetis Inc. (NYSE:ZTS)

Mercer Global Advisors Inc. ADV boosted its stake in shares of Zoetis Inc. (NYSE:ZTS) by 12.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,298 shares of the company’s stock after purchasing an additional 5,384 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Zoetis were worth $8,530,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Focus Financial Network Inc. ADV purchased a new stake in shares of Zoetis during the fourth quarter valued at $2,159,000. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $2,707,262,000 after purchasing an additional 3,244,074 shares during the period. Axiom Investors LLC DE increased its holdings in shares of Zoetis by 36.3% in the fourth quarter. Axiom Investors LLC DE now owns 594,474 shares of the company’s stock valued at $117,331,000 after purchasing an additional 158,459 shares during the period. Global Assets Advisory LLC purchased a new position in shares of Zoetis in the first quarter worth about $8,831,000. Finally, Franklin Street Advisors Inc. NC lifted its holdings in shares of Zoetis by 4.3% during the first quarter. Franklin Street Advisors Inc. NC now owns 121,024 shares of the company’s stock worth $20,478,000 after purchasing an additional 5,035 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday. BTIG Research raised their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Piper Sandler upped their price target on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $220.38.

Zoetis Stock Down 0.3 %

ZTS opened at $192.73 on Friday. The company has a fifty day moving average of $184.70 and a two-hundred day moving average of $174.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. 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 (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. Zoetis’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts expect that Zoetis Inc. will post 5.84 earnings per share for the current year.

Zoetis Company 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.