Korea Investment CORP Grows Position in Zoetis Inc. (NYSE:ZTS)

Korea Investment CORP grew its holdings in Zoetis Inc. (NYSE:ZTS) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 328,156 shares of the company’s stock after buying an additional 34,174 shares during the period. Korea Investment CORP’s holdings in Zoetis were worth $53,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Howard Capital Management Group LLC boosted its holdings in shares of Zoetis by 0.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 104,866 shares of the company’s stock worth $20,489,000 after purchasing an additional 883 shares during the last quarter. Principal Financial Group Inc. boosted its stake 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. D.A. Davidson & CO. grew its holdings in Zoetis by 4.3% in the 3rd quarter. D.A. Davidson & CO. now owns 25,979 shares of the company’s stock valued at $5,076,000 after buying an additional 1,062 shares in the last quarter. Freedom Investment Management Inc. increased its stake in shares of Zoetis by 40.1% in the 3rd quarter. Freedom Investment Management Inc. now owns 5,699 shares of the company’s stock worth $1,113,000 after acquiring an additional 1,632 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Zoetis by 383.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 67,517 shares of the company’s stock worth $13,191,000 after acquiring an additional 53,540 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Price Performance

ZTS opened at $165.12 on Friday. The stock’s 50-day moving average price is $166.46 and its 200 day moving average price is $174.87. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.33. The firm has a market cap of $73.94 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 2.78 and a beta of 0.94. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. As a group, sell-side analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued a $0.50 dividend. The ex-dividend date is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.21%. Zoetis’s dividend payout ratio (DPR) is presently 36.56%.

Analyst Ratings Changes

ZTS has been the subject of several recent analyst reports. Stifel Nicolaus cut their price objective on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. UBS Group began coverage on shares of Zoetis in a report on Monday, December 9th. They set a “neutral” rating and a $196.00 price target for the company. StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Leerink Partners started coverage on Zoetis in a research report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price objective for the company. Finally, Piper Sandler lifted their target price on Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $215.90.

Insider Buying and Selling

In related news, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the transaction, the director now owns 11,245 shares in the company, valued at $1,868,244.30. The trade was a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total transaction 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. This represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,862 shares of company stock valued at $312,254 in the last three months. 0.16% of the stock is 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.