Benson Investment Management Company Inc. Makes New $5.31 Million Investment in Zoetis Inc. (NYSE:ZTS)

Benson Investment Management Company Inc. acquired a new position in Zoetis Inc. (NYSE:ZTS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 32,253 shares of the company's stock, valued at approximately $5,310,000. Zoetis makes up about 2.3% of Benson Investment Management Company Inc.'s holdings, making the stock its 19th largest holding.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in Zoetis in the 4th quarter worth approximately $824,321,000. Wellington Management Group LLP raised its holdings in shares of Zoetis by 78.5% in the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock worth $1,133,755,000 after buying an additional 3,059,255 shares during the last quarter. Sarasin & Partners LLP acquired a new stake in shares of Zoetis during the first quarter worth $339,111,000. GAMMA Investing LLC grew its holdings in shares of Zoetis by 14,731.3% during the first quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company's stock valued at $289,666,000 after buying an additional 1,747,423 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Zoetis in the 4th quarter valued at $196,651,000. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Price Performance

ZTS stock remained flat at $168.59 during mid-day trading on Thursday. The company's stock had a trading volume of 2,773,945 shares, compared to its average volume of 2,539,221. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The firm has a 50-day moving average of $157.16 and a 200 day moving average of $164.46. The firm has a market capitalization of $75.06 billion, a P/E ratio of 30.82, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. The business had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.20 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The business's revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.38 earnings per share. On average, research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.19%. Zoetis's dividend payout ratio (DPR) is presently 35.91%.

Analysts Set New Price Targets

ZTS has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Wall Street Zen upgraded Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Barclays raised their price target on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. UBS Group decreased their target price on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Piper Sandler lifted their price objective on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $212.75.

Insider Activity

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the sale, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. This represents a 9.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following the transaction, the executive vice president now owns 15,129 shares in the company, valued at approximately $2,571,930. This represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,188 shares of company stock worth $367,289 over the last ninety days. Corporate insiders own 0.18% of the company's stock.

About Zoetis

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.