KLP Kapitalforvaltning AS Has $35.71 Million Holdings in Zoetis Inc. (NYSE:ZTS)

KLP Kapitalforvaltning AS grew its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 41.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 216,874 shares of the company's stock after acquiring an additional 63,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Zoetis were worth $35,708,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Coppell Advisory Solutions LLC boosted its holdings in shares of Zoetis by 18.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company's stock valued at $68,000 after buying an additional 64 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Zoetis by 1.8% in the 1st quarter. Lindbrook Capital LLC now owns 3,715 shares of the company's stock valued at $612,000 after buying an additional 65 shares during the last quarter. Legacy Financial Advisors Inc. boosted its holdings in shares of Zoetis by 5.8% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,282 shares of the company's stock valued at $209,000 after buying an additional 70 shares during the last quarter. Quotient Wealth Partners LLC boosted its holdings in shares of Zoetis by 2.3% in the 1st quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company's stock valued at $521,000 after buying an additional 72 shares during the last quarter. Finally, Broadway Wealth Solutions Inc. boosted its holdings in shares of Zoetis by 4.4% in the 1st quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company's stock valued at $287,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Zoetis Stock Performance

ZTS stock traded down $0.90 during trading hours on Friday, hitting $151.92. 3,326,080 shares of the stock were exchanged, compared to its average volume of 2,967,721. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $67.64 billion, a P/E ratio of 27.28, a P/E/G ratio of 2.53 and a beta of 0.91. The company has a 50-day simple moving average of $159.91 and a two-hundred day simple moving average of $161.01. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.08. The firm had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.20 billion. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 EPS. On average, 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. Investors of record on Friday, July 18th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's payout ratio is currently 35.91%.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the firm's 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 owned 15,129 shares in the company, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZTS. Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $180.00 to $155.00 in a report 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. Stifel Nicolaus cut Zoetis from a "buy" rating to a "hold" rating and dropped their price target for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Piper Sandler increased their price target on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Finally, UBS Group dropped their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.63.

Zoetis 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.