Sumitomo Mitsui Trust Holdings Inc. Boosts Holdings in Zoetis Inc. (NYSE:ZTS)

Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,218,212 shares of the company’s stock after buying an additional 20,151 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.27% of Zoetis worth $206,134,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ZTS. Blue Bell Private Wealth Management LLC increased 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 acquiring an additional 89 shares during the period. Webster Bank N. A. raised its position in Zoetis by 89.1% in the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Independence Bank of Kentucky boosted its stake in shares of Zoetis by 371.4% in the 4th quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after buying an additional 130 shares during the period. Private Wealth Management Group LLC acquired a new position in shares of Zoetis during the fourth quarter worth about $33,000. Finally, Ramirez Asset Management Inc. purchased a new stake in shares of Zoetis during the third quarter worth approximately $35,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

NYSE ZTS opened at $175.57 on Thursday. The firm has a market cap of $80.11 billion, a P/E ratio of 33.83, a P/E/G ratio of 2.72 and a beta of 0.86. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The business’s 50-day moving average price is $169.73 and its 200 day moving average price is $178.25. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts expect that Zoetis Inc. will post 5.76 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be given a $0.432 dividend. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. Zoetis’s payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 14,800 shares in the company, valued at $2,237,316. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by insiders.

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.