Truist Financial Corp Increases Holdings in Zoetis Inc. (NYSE:ZTS)

Truist Financial Corp grew its position in shares of Zoetis Inc. (NYSE:ZTS) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,202 shares of the company’s stock after buying an additional 2,557 shares during the quarter. Truist Financial Corp’s holdings in Zoetis were worth $29,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ZTS. Price T Rowe Associates Inc. MD lifted 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 valued at $2,707,262,000 after acquiring an additional 3,244,074 shares during the period. Sarasin & Partners LLP lifted its stake in shares of Zoetis by 546.3% in the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after purchasing an additional 1,904,899 shares during the period. Swedbank AB purchased a new position in shares of Zoetis in the first quarter worth approximately $210,815,000. Marshall Wace LLP grew its position in Zoetis by 7,608.6% during the second quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock valued at $144,874,000 after buying an additional 824,843 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Zoetis by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 40,334,966 shares of the company’s stock valued at $7,960,912,000 after buying an additional 536,477 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZTS. Piper Sandler lifted their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. BTIG Research lifted their target price on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus raised their price objective on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $220.38.

Zoetis Stock Performance

NYSE ZTS opened at $192.49 on Thursday. The business has a 50-day moving average price of $186.89 and a 200-day moving average price of $175.21. The firm has a market cap of $87.83 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 2.99 and a beta of 0.88. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm posted $1.41 EPS. The company’s revenue was up 8.3% on a year-over-year basis. 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.