Zoetis Inc. (NYSE:ZTS) Holdings Raised by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Zoetis Inc. by 10%, acquiring an additional 15,683 shares to hold a total of 172,018 shares valued at approximately $28.29 million.
• Zoetis recently reported quarterly earnings of $1.48 per share, surpassing analyst expectations and reflecting a 1.4% increase in year-over-year revenue to $2.22 billion.
• The company declared a quarterly dividend of $0.50, which will be paid on September 3rd, representing an annual yield of 1.4% with a payout ratio of 35.91%.

OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 10.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,018 shares of the company's stock after buying an additional 15,683 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Zoetis were worth $28,290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ZTS. Coppell Advisory Solutions LLC grew its position in shares of Zoetis by 18.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company's stock valued at $68,000 after purchasing an additional 64 shares during the period. Lindbrook Capital LLC increased its stake in shares of Zoetis by 1.8% during the 1st quarter. Lindbrook Capital LLC now owns 3,715 shares of the company's stock valued at $612,000 after acquiring an additional 65 shares during the last quarter. Legacy Financial Advisors Inc. lifted its holdings in shares of Zoetis by 5.8% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,282 shares of the company's stock worth $209,000 after acquiring an additional 70 shares during the period. Quotient Wealth Partners LLC lifted its holdings in shares of Zoetis by 2.3% during the 1st quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company's stock worth $521,000 after acquiring an additional 72 shares during the period. Finally, Broadway Wealth Solutions Inc. boosted its position in shares of Zoetis by 4.4% in the first quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company's stock worth $287,000 after acquiring an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Stock Up 3.3%

Zoetis stock traded up $4.93 during midday trading on Monday, hitting $152.31. 6,269,265 shares of the stock were exchanged, compared to its average volume of 3,305,504. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.74 and a quick ratio of 1.04. The firm has a market cap of $67.81 billion, a P/E ratio of 27.34, a P/E/G ratio of 2.44 and a beta of 0.88. The company has a 50 day moving average price of $158.51 and a two-hundred day moving average price of $160.35.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company earned $1.38 earnings per share. The business's quarterly revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be issued 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 yield of 1.3%. Zoetis's dividend payout ratio (DPR) is currently 35.91%.

Analysts Set New Price Targets

A number of research firms have weighed in on ZTS. UBS Group cut their price target on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $180.00 to $155.00 in a report on Thursday, July 17th. Piper Sandler boosted their target price on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and dropped their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.63.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the company'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 transaction of $110,840.00. Following the completion of the transaction, the executive vice president directly owned 15,129 shares of the company's stock, valued at approximately $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

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.