Norges Bank Buys Shares of 5,059,355 Zoetis Inc. (NYSE:ZTS)

Norges Bank purchased a new stake in Zoetis Inc. (NYSE:ZTS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,059,355 shares of the company’s stock, valued at approximately $824,321,000.

Other large investors have also recently bought and sold shares of the company. Dunhill Financial LLC boosted its position in Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock worth $33,000 after buying an additional 75 shares during the period. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Zoetis by 482.8% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock worth $28,000 after purchasing an additional 166 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Zoetis in the fourth quarter worth $44,000. Finally, Quarry LP increased its holdings in Zoetis by 45.9% in the third quarter. Quarry LP now owns 305 shares of the company’s stock valued at $60,000 after purchasing an additional 96 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Zoetis Stock Up 1.4 %

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

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 the consensus estimate of $1.37 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates 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 predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be paid a dividend of $0.50 per share. 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 currently 36.56%.

Wall Street Analyst Weigh In

Several research analysts have commented on ZTS shares. Morgan Stanley cut their target price on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Barclays lifted their price objective on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Stifel Nicolaus dropped their price target on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Leerink Partners began coverage on shares of Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective for the company. One equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $215.90.

Insider Activity at Zoetis

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total transaction of $201,029.40. Following the transaction, the director now directly owns 11,245 shares of the company’s stock, valued at $1,868,244.30. The trade was a 9.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction 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 represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,862 shares of company stock valued at $312,254 over the last 90 days. Insiders own 0.16% of the company’s stock.

Zoetis Company 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.