Mirae Asset Global Investments Co. Ltd. grew its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 4.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 68,508 shares of the company's stock after buying an additional 2,748 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Zoetis were worth $11,183,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. lifted its stake in Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock worth $28,000 after purchasing an additional 166 shares during the last quarter. Navigoe LLC purchased a new stake in Zoetis during the fourth quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in Zoetis during the fourth quarter worth approximately $44,000. Sound Income Strategies LLC lifted its stake in Zoetis by 141.4% during the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after purchasing an additional 164 shares during the last quarter. Finally, Bfsg LLC lifted its stake in Zoetis by 614.6% during the first quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. Stifel Nicolaus cut Zoetis from a "buy" rating to a "hold" rating and decreased their target price for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Piper Sandler boosted their target price on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. 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. Finally, Wall Street Zen upgraded Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Zoetis currently has a consensus rating of "Buy" and an average price target of $212.13.
View Our Latest Report on Zoetis
Zoetis Stock Performance
NYSE ZTS traded up $3.14 on Tuesday, reaching $159.09. The stock had a trading volume of 3,926,550 shares, compared to its average volume of 2,566,631. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33. The business's 50-day moving average price is $160.58 and its 200 day moving average price is $162.36. The stock has a market cap of $70.83 billion, a P/E ratio of 28.56, a price-to-earnings-growth ratio of 2.59 and a beta of 0.94.
Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. The company had revenue of $2.22 billion during 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 firm's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 earnings per share. As a group, equities analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.
Zoetis Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, July 18th. Zoetis's payout ratio is currently 35.91%.
Insider Activity
In other news, EVP Roxanne Lagano sold 652 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.
About Zoetis
(
Free Report)
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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