World Equity Group Inc. Makes New Investment in Zoetis Inc. (NYSE:ZTS)

World Equity Group Inc. bought a new position in Zoetis Inc. (NYSE:ZTS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,099 shares of the company’s stock, valued at approximately $342,000.

A number of other hedge funds have also modified their holdings of the stock. AMF Tjanstepension AB increased its holdings in Zoetis by 23.4% during the 3rd quarter. AMF Tjanstepension AB now owns 105,376 shares of the company’s stock valued at $20,594,000 after purchasing an additional 20,001 shares in the last quarter. Howard Capital Management Group LLC increased its stake in shares of Zoetis by 0.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 104,866 shares of the company’s stock valued at $20,489,000 after buying an additional 883 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Zoetis by 8.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 55,696 shares of the company’s stock worth $10,882,000 after purchasing an additional 4,107 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Zoetis by 28.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,653 shares of the company’s stock worth $12,011,000 after purchasing an additional 13,699 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its position in shares of Zoetis by 0.5% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 23,250 shares of the company’s stock worth $4,543,000 after purchasing an additional 110 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Trading Up 1.9 %

Shares of NYSE:ZTS opened at $160.39 on Monday. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.53. The stock has a market cap of $71.82 billion, a PE ratio of 29.32, a P/E/G ratio of 2.78 and a beta of 0.90. The business has a 50 day moving average of $166.51 and a 200-day moving average of $177.94. 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) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. As a group, equities research 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 Tuesday, June 3rd. Investors of record on Monday, April 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s dividend payout ratio (DPR) is currently 36.56%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ZTS shares. Barclays lifted their target price on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Leerink Partners initiated coverage on Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price target on the stock. Morgan Stanley lowered their target price on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, UBS Group assumed coverage on Zoetis in a research report on Monday, December 9th. They set a “neutral” rating and a $196.00 price target on the stock. One research analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $215.40.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 326 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the completion of the sale, the executive vice president now directly owns 16,107 shares in the company, valued at approximately $2,757,196.26. The trade was a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

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.