Zoetis Inc. (NYSE:ZTS) Shares Bought by King Luther Capital Management Corp

by · The Cerbat Gem

King Luther Capital Management Corp increased its position in Zoetis Inc. (NYSE:ZTS – Free Report) by 1.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,815,949 shares of the company’s stock after purchasing an additional 26,918 shares during the period. Zoetis comprises about 1.5% of King Luther Capital Management Corp’s investment portfolio, making the stock its 15th biggest holding. King Luther Capital Management Corp owned 0.40% of Zoetis worth $354,800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mizuho Securities USA LLC boosted its stake in shares of Zoetis by 13,726.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock valued at $950,524,000 after buying an additional 4,829,815 shares during the period. Bank of New York Mellon Corp lifted its stake in Zoetis by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock valued at $812,695,000 after acquiring an additional 178,303 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Zoetis by 2.3% during the 1st quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock worth $685,416,000 after purchasing an additional 90,330 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Zoetis by 5.8% during the 2nd quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock valued at $527,774,000 after purchasing an additional 166,517 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Zoetis by 17.3% during the third quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company’s stock worth $464,497,000 after buying an additional 351,372 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Up 0.1 %

Shares of NYSE:ZTS opened at $175.67 on Thursday. The company has a market capitalization of $79.26 billion, a PE ratio of 33.02, a PEG ratio of 2.69 and a beta of 0.90. The company has a 50 day moving average price of $186.18 and a two-hundred day moving average price of $180.47. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92.

Zoetis (NYSE:ZTS – Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the company posted $1.36 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio is presently 32.52%.

Wall Street Analyst Weigh In

ZTS has been the topic of a number of research analyst reports. Stifel Nicolaus raised their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. BTIG Research boosted their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Piper Sandler raised their target price on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $221.44.

Get Our Latest Stock Report on Zoetis

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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