Mirae Asset Global Investments Co. Ltd. Buys 13,699 Shares of Zoetis Inc. (NYSE:ZTS)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Zoetis Inc. (NYSE:ZTS) by 28.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 61,653 shares of the company’s stock after acquiring an additional 13,699 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Zoetis were worth $12,011,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Zoetis by 1.0% in the first quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock worth $6,895,235,000 after purchasing an additional 414,605 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Zoetis by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock worth $812,695,000 after acquiring an additional 178,303 shares in the last quarter. Capital Research Global Investors lifted its position in Zoetis by 2.3% during the 1st quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock valued at $685,416,000 after acquiring an additional 90,330 shares during the period. Clearbridge Investments LLC lifted its position in Zoetis by 5.8% during the 2nd quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock valued at $527,774,000 after acquiring an additional 166,517 shares during the period. Finally, Sarasin & Partners LLP boosted its stake in Zoetis by 546.3% during the second quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after acquiring an additional 1,904,899 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Down 0.8 %

Shares of Zoetis stock opened at $180.01 on Monday. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The business has a 50-day moving average price of $189.10 and a 200-day moving average price of $177.89. The firm has a market cap of $82.14 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.94 and a beta of 0.89.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. Equities research analysts anticipate that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be issued a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.96%. Zoetis’s dividend payout ratio (DPR) is presently 33.14%.

Analyst Upgrades and Downgrades

ZTS has been the topic of a number of analyst reports. Argus raised Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Piper Sandler boosted their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. BTIG Research raised their price target on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. lifted their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Stifel Nicolaus increased their price objective on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $221.44.

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.