Mufg Securities Americas Inc. Invests $1.09 Million in Zoetis Inc. (NYSE:ZTS)

Mufg Securities Americas Inc. bought a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,661 shares of the company's stock, valued at approximately $1,085,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Zoetis by 10.6% in the third quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company's stock valued at $569,834,000 after buying an additional 279,092 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in Zoetis during the 4th quarter worth approximately $272,000. FNY Investment Advisers LLC acquired a new position in shares of Zoetis in the fourth quarter valued at approximately $244,000. Marcum Wealth LLC increased its holdings in shares of Zoetis by 5.2% in the fourth quarter. Marcum Wealth LLC now owns 1,386 shares of the company's stock valued at $226,000 after purchasing an additional 69 shares during the period. Finally, 180 Wealth Advisors LLC raised its stake in shares of Zoetis by 22.2% during the fourth quarter. 180 Wealth Advisors LLC now owns 3,716 shares of the company's stock worth $606,000 after purchasing an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ZTS shares. Morgan Stanley cut their price objective on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. StockNews.com upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Barclays boosted their target price on Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Piper Sandler lifted 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 cut their price objective on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Zoetis has an average rating of "Buy" and a consensus target price of $212.75.

Zoetis Trading Up 1.7%

Shares of ZTS traded up $2.68 during mid-day trading on Friday, hitting $163.03. The company had a trading volume of 2,391,686 shares, compared to its average volume of 2,516,010. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The business's 50-day simple moving average is $156.46 and its 200-day simple moving average is $165.43. The stock has a market cap of $72.58 billion, a PE ratio of 29.80, a P/E/G ratio of 2.78 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings results 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. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the business earned $1.38 EPS. Zoetis's revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Willie M. Reed sold 1,210 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the sale, the director now owns 11,245 shares of the company's stock, valued at $1,868,244.30. This represents a 9.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $170.00, for a total value of $55,420.00. Following the completion of the sale, the executive vice president now owns 15,781 shares of the company's stock, valued at approximately $2,682,770. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

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.