Fjarde AP Fonden Fourth Swedish National Pension Fund Has $18.41 Million Holdings in Zoetis Inc. (NYSE:ZTS)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Zoetis Inc. by 9.8%, owning 111,811 shares valued at approximately $18.41 million as per the latest SEC filing.
• Zoetis reported quarterly earnings of $1.76 per share, exceeding analyst expectations, with revenue totaling $2.46 billion, marking a 4.2% increase compared to the same quarter last year.
• The company plans to distribute a quarterly dividend of $0.50 per share, with an annualized yield of 1.3%, scheduled for payment on September 3rd.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 9.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,811 shares of the company's stock after purchasing an additional 10,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Zoetis were worth $18,410,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Holderness Investments Co. grew its stake in shares of Zoetis by 6.4% during the first quarter. Holderness Investments Co. now owns 4,962 shares of the company's stock worth $817,000 after purchasing an additional 299 shares during the period. Financial Network Wealth Advisors LLC grew its stake in Zoetis by 38.3% in the first quarter. Financial Network Wealth Advisors LLC now owns 914 shares of the company's stock valued at $150,000 after acquiring an additional 253 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Zoetis by 5.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 206,613 shares of the company's stock valued at $34,019,000 after acquiring an additional 10,486 shares during the period. S Bank Fund Management Ltd acquired a new position in Zoetis in the first quarter valued at about $2,075,000. Finally, National Pension Service grew its stake in Zoetis by 8.8% in the first quarter. National Pension Service now owns 1,318,982 shares of the company's stock valued at $217,170,000 after acquiring an additional 106,368 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the sale, the executive vice president owned 15,129 shares in the company, valued at approximately $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Piper Sandler reissued an "overweight" rating and issued a $215.00 target price (up from $210.00) on shares of Zoetis in a research note on Monday. Stifel Nicolaus cut Zoetis from a "buy" rating to a "hold" rating and decreased their target price for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Leerink Partners cut Zoetis from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Finally, UBS Group decreased their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $202.43.

Zoetis Stock Performance

Shares of Zoetis stock opened at $152.38 on Thursday. The firm has a market cap of $67.53 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 2.44 and a beta of 0.88. The stock's 50-day moving average is $155.57 and its 200-day moving average is $159.45. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.14. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. The company's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.56 earnings per share. Equities analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio is presently 34.42%.

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.

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