State of New Jersey Common Pension Fund D Sells 93,766 Shares of Zoetis Inc. (NYSE:ZTS)

State of New Jersey Common Pension Fund D lessened its stake in Zoetis Inc. (NYSE:ZTS) by 35.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 168,823 shares of the company’s stock after selling 93,766 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Zoetis were worth $29,267,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Private Wealth Management Group LLC purchased a new position in shares of Zoetis in the fourth quarter worth about $33,000. Webster Bank N. A. raised its holdings in Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Zoetis during the fourth quarter worth $40,000. LRI Investments LLC purchased a new position in shares of Zoetis in the first quarter valued at $43,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Zoetis during the 4th quarter valued at $51,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

ZTS has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $200.00 price objective on shares of Zoetis in a research note on Tuesday, August 27th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Finally, BTIG Research boosted their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $217.11.

Zoetis Stock Performance

NYSE ZTS opened at $190.71 on Friday. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The company has a fifty day moving average of $182.52 and a 200-day moving average of $174.54. The company has a market capitalization of $86.40 billion, a P/E ratio of 36.75, a P/E/G ratio of 2.90 and a beta of 0.88. 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 (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 earnings per share. As a group, equities research analysts predict that Zoetis Inc. will post 5.84 EPS for the current fiscal 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.