Zoetis Inc. (NYSE:ZTS) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its holdings in Zoetis Inc. by 5.3%, owning 206,613 shares valued at approximately $34 million as of its latest SEC filing.
• In its latest earnings report, Zoetis reported $1.76 EPS for the quarter, surpassing analysts' estimates of $1.62 and showing a year-over-year revenue growth of 4.2%.
• Zoetis declared a quarterly dividend of $0.50 per share, which translates to an annualized dividend of $2.00 and a yield of 1.3% for shareholders.

Tokio Marine Asset Management Co. Ltd. grew its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 206,613 shares of the company's stock after acquiring an additional 10,486 shares during the period. Zoetis comprises approximately 1.2% of Tokio Marine Asset Management Co. Ltd.'s holdings, making the stock its 14th biggest holding. Tokio Marine Asset Management Co. Ltd.'s holdings in Zoetis were worth $34,019,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Navigoe LLC purchased a new position in shares of Zoetis in the 4th quarter valued at $30,000. Cornerstone Planning Group LLC raised its stake in shares of Zoetis by 79.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after acquiring an additional 88 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Zoetis by 87.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after acquiring an additional 120 shares during the period. Sound Income Strategies LLC raised its stake in shares of Zoetis by 141.4% in the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after acquiring an additional 164 shares during the period. Finally, Bfsg LLC raised its stake in shares of Zoetis by 614.6% in the 1st quarter. Bfsg LLC now owns 293 shares of the company's stock valued at $48,000 after acquiring an additional 252 shares during the period. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Trading Up 0.5%

NYSE ZTS opened at $149.72 on Wednesday. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The company has a 50-day simple moving average of $155.89 and a 200-day simple moving average of $159.50. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. The firm has a market capitalization of $66.35 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 2.43 and a beta of 0.88.

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

Zoetis Announces Dividend

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

Insider Activity at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction of $110,840.00. Following the sale, the executive vice president directly owned 15,129 shares in the company, valued at approximately $2,571,930. The trade was a 4.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

ZTS has been the topic of several analyst reports. UBS Group dropped 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. Piper Sandler lifted their price target on shares of Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday. Leerink Partners downgraded shares of Zoetis from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and dropped their price target for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Finally, Leerink Partnrs downgraded shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $202.43.

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.

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