Nordea Investment Management AB Buys 572,511 Shares of Zoetis Inc. (NYSE:ZTS)

Nordea Investment Management AB boosted its stake in shares of Zoetis Inc. (NYSE:ZTS) by 38.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,065,514 shares of the company’s stock after buying an additional 572,511 shares during the period. Nordea Investment Management AB’s holdings in Zoetis were worth $336,266,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ZTS. Darwin Wealth Management LLC bought a new position in Zoetis during the third quarter valued at approximately $31,000. First Personal Financial Services bought a new stake in shares of Zoetis in the 3rd quarter valued at approximately $33,000. Capital Performance Advisors LLP bought a new position in shares of Zoetis during the 3rd quarter valued at approximately $33,000. Dunhill Financial LLC raised its holdings in Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after buying an additional 75 shares during the period. Finally, Quarry LP lifted its position in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

ZTS opened at $163.31 on Monday. The firm has a fifty day moving average price of $173.41 and a 200 day moving average price of $180.49. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $200.53. The stock has a market cap of $73.68 billion, a P/E ratio of 30.70, a P/E/G ratio of 2.91 and a beta of 0.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27.

Zoetis (NYSE:ZTS) last posted its earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $1.36 EPS. Equities research analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This is a boost from Zoetis’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a yield of 1.22%. Zoetis’s dividend payout ratio is currently 37.59%.

Analysts Set New Price Targets

ZTS has been the subject of several research analyst reports. UBS Group began coverage on shares of Zoetis in a research note on Monday, December 9th. They set a “neutral” rating and a $196.00 price target for the company. Leerink Partners began coverage on Zoetis in a report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price for the company. JPMorgan Chase & Co. raised their price target on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus increased their target price on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Leerink Partnrs upgraded shares of Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $215.22.

About Zoetis

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.