Jensen Investment Management Inc. Increases Stock Position in Zoetis Inc. (NYSE:ZTS)

Jensen Investment Management Inc. increased its position in Zoetis Inc. (NYSE:ZTS) by 25.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,965,541 shares of the company’s stock after acquiring an additional 395,192 shares during the period. Zoetis comprises about 2.8% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Jensen Investment Management Inc. owned 0.43% of Zoetis worth $340,746,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hohimer Wealth Management LLC raised its holdings in Zoetis by 1.2% during the fourth quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock valued at $866,000 after acquiring an additional 52 shares during the period. Forum Financial Management LP lifted its stake in Zoetis by 0.8% in the fourth quarter. Forum Financial Management LP now owns 7,386 shares of the company’s stock worth $1,458,000 after acquiring an additional 56 shares during the period. Angeles Wealth Management LLC increased its holdings in Zoetis by 3.5% during the fourth quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock valued at $324,000 after buying an additional 56 shares during the period. Forza Wealth Management LLC lifted its stake in shares of Zoetis by 1.8% during the 2nd quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock worth $574,000 after purchasing an additional 58 shares during the last quarter. Finally, L. Roy Papp & Associates LLP grew its position in shares of Zoetis by 2.8% in the 2nd quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock worth $385,000 after buying an additional 60 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ZTS shares. BTIG Research raised their price target 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 increased their target price on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus reiterated a “buy” rating and set a $200.00 price objective on shares of Zoetis in a research note on Tuesday, August 27th. Finally, Argus raised 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $217.11.

Zoetis Stock Performance

ZTS stock traded up $1.18 during trading on Friday, hitting $187.77. The company had a trading volume of 152,510 shares, compared to its average volume of 2,646,743. The firm has a 50-day moving average price of $180.90 and a 200-day moving average price of $174.57. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The firm has a market cap of $85.07 billion, a PE ratio of 35.95, a price-to-earnings-growth ratio of 2.87 and a beta of 0.88. 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 posted its quarterly earnings data 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 firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. Zoetis’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $1.41 EPS. On average, 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.