Zoetis Inc. (NYSE:ZTS) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

by · The Cerbat Gem

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Zoetis Inc. (NYSE:ZTS – Free Report) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,947 shares of the company’s stock after buying an additional 1,960 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Zoetis were worth $16,292,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ZTS. Norges Bank acquired a new position in Zoetis in the fourth quarter worth $824,321,000. Wellington Management Group LLP boosted its holdings in shares of Zoetis by 78.5% in the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock valued at $1,133,755,000 after buying an additional 3,059,255 shares during the period. Sarasin & Partners LLP bought a new stake in shares of Zoetis during the 1st quarter valued at about $339,111,000. GAMMA Investing LLC raised its stake in Zoetis by 14,731.3% during the first quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company’s stock worth $289,666,000 after acquiring an additional 1,747,423 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Zoetis in the fourth quarter worth about $196,651,000. Institutional investors own 92.80% of the company’s stock.

Insider Activity

In related news, EVP Roxanne Lagano sold 652 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the sale, the executive vice president directly owned 15,129 shares in the company, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ZTS has been the topic of a number of research reports. Wall Street Zen upgraded Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. UBS Group cut their target price on 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 boosted their price target on shares of Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, May 12th. Finally, Stifel Nicolaus cut shares of Zoetis from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $212.13.

Get Our Latest Report on ZTS

Zoetis Trading Down 0.2%

Zoetis stock opened at $155.86 on Tuesday. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33. The stock has a market capitalization of $69.39 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 2.59 and a beta of 0.94. The firm has a 50 day simple moving average of $160.58 and a 200-day simple moving average of $162.36. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.74 and a quick ratio of 1.04.

Zoetis (NYSE:ZTS – Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.08. The company had revenue of $2.22 billion for 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 period last year, the firm earned $1.38 EPS. As a group, equities research analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. Zoetis’s dividend payout ratio is currently 35.91%.

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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