Zoetis Inc. (NYSE:ZTS) Shares Sold by Westpac Banking Corp

Westpac Banking Corp lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 40.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,438 shares of the company’s stock after selling 51,240 shares during the quarter. Westpac Banking Corp’s holdings in Zoetis were worth $14,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ZTS. Canada Pension Plan Investment Board increased its holdings in shares of Zoetis by 760.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,270,365 shares of the company’s stock valued at $200,057,000 after acquiring an additional 1,122,681 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Zoetis by 503.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,161,345 shares of the company’s stock valued at $182,889,000 after acquiring an additional 968,926 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Zoetis by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,062,310 shares of the company’s stock valued at $1,584,612,000 after acquiring an additional 912,551 shares in the last quarter. AKO Capital LLP increased its holdings in Zoetis by 52.9% in the 2nd quarter. AKO Capital LLP now owns 2,432,203 shares of the company’s stock worth $453,265,000 after buying an additional 841,224 shares during the period. Finally, Toronto Dominion Bank increased its holdings in Zoetis by 196.9% in the 1st quarter. Toronto Dominion Bank now owns 880,942 shares of the company’s stock worth $138,729,000 after buying an additional 584,203 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Shares of NYSE:ZTS traded down $4.28 during trading on Friday, reaching $198.49. The company had a trading volume of 4,160,202 shares, compared to its average volume of 1,800,599. The firm has a market capitalization of $94.07 billion, a price-to-earnings ratio of 49.75, a price-to-earnings-growth ratio of 3.31 and a beta of 0.64. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.37 and a quick ratio of 2.51. The stock’s fifty day moving average price is $203.34 and its 200 day moving average price is $181.93. Zoetis Inc. has a fifty-two week low of $141.41 and a fifty-two week high of $210.10.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, August 5th. The company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.11. Zoetis had a return on equity of 53.87% and a net margin of 25.76%. During the same period in the prior year, the firm earned $0.89 EPS. On average, equities analysts anticipate that Zoetis Inc. will post 4.53 EPS for the current fiscal year.

Several equities research analysts have commented on ZTS shares. Cantor Fitzgerald upped their price objective on Zoetis from $210.00 to $238.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. Barclays increased their price objective on Zoetis from $208.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 6th. Credit Suisse Group increased their price objective on Zoetis from $206.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, August 9th. Zacks Investment Research raised Zoetis from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a research note on Tuesday, June 1st. Finally, Argus raised their target price on Zoetis from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, August 25th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $199.08.

In related news, Director Willie M. Reed sold 1,450 shares of Zoetis stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $207.10, for a total value of $300,295.00. Following the sale, the director now directly owns 5,964 shares in the company, valued at $1,235,144.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Roxanne Lagano sold 22,450 shares of Zoetis stock in a transaction that occurred on Thursday, July 22nd. The shares were sold at an average price of $199.18, for a total value of $4,471,591.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,003 shares of company stock worth $9,711,854. Company insiders own 0.17% of the company’s stock.

Zoetis Company Profile

Zoetis, Inc discovers, develops, and manufactures a portfolio of animal health medicines and vaccines. The firm operates through the following segments: United States &International. Its products are complemented by diagnostic products, genetic tests, bio devices, and services. These are designed to meet the needs of veterinarians and the livestock farmers and companion animal.

See Also: Intrinsic Value

Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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