MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Lowers Position in Zoetis Inc. (NYSE:ZTS)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its position in Zoetis Inc. (NYSE:ZTS) by 65.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,074 shares of the company’s stock after selling 5,791 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Zoetis were worth $520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC lifted its position in shares of Zoetis by 222.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Webster Bank N. A. raised its position in shares of Zoetis by 89.1% in the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. Independence Bank of Kentucky lifted its stake in shares of Zoetis by 371.4% during the 4th quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock worth $33,000 after purchasing an additional 130 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in Zoetis during the fourth quarter valued at about $33,000. Finally, Ramirez Asset Management Inc. purchased a new position in Zoetis in the third quarter valued at about $35,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ZTS shares. HSBC decreased their price target on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Stifel Nicolaus cut their price target on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. The Goldman Sachs Group reduced their price target on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Barclays lowered their price objective on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Zoetis presently has an average rating of “Buy” and an average price target of $211.75.

Zoetis Stock Performance

Shares of ZTS opened at $174.81 on Wednesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. The stock has a 50-day moving average of $169.23 and a two-hundred day moving average of $178.40. The stock has a market cap of $79.77 billion, a P/E ratio of 33.68, a P/E/G ratio of 2.69 and a beta of 0.86. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that Zoetis Inc. will post 5.76 EPS for the current year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s payout ratio is presently 33.33%.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total value of $139,529.91. Following the completion of the transaction, the executive vice president now directly owns 14,800 shares in the company, valued at approximately $2,237,316. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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.