Resona Asset Management Co. Ltd. Makes New Investment in Zoetis Inc. (NYSE:ZTS)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Zoetis Inc. (NYSE:ZTS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 343,494 shares of the company’s stock, valued at approximately $56,032,000. Resona Asset Management Co. Ltd. owned about 0.08% of Zoetis as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Callahan Advisors LLC boosted its position in shares of Zoetis by 90.4% in the 4th quarter. Callahan Advisors LLC now owns 13,105 shares of the company’s stock valued at $2,135,000 after purchasing an additional 6,221 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Zoetis by 24.1% in the fourth quarter. CIBC Asset Management Inc now owns 237,369 shares of the company’s stock worth $38,617,000 after buying an additional 46,050 shares during the period. Pensionfund Sabic increased its position in shares of Zoetis by 55.6% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the company’s stock worth $1,825,000 after acquiring an additional 4,000 shares in the last quarter. PFW Advisors LLC acquired a new stake in shares of Zoetis during the fourth quarter valued at approximately $1,764,000. Finally, Alberta Investment Management Corp lifted its position in shares of Zoetis by 2,050.0% in the 4th quarter. Alberta Investment Management Corp now owns 30,100 shares of the company’s stock valued at $4,904,000 after acquiring an additional 28,700 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Zoetis Price Performance

NYSE ZTS opened at $151.76 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 stock has a market capitalization of $67.96 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 2.78 and a beta of 0.92. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.33. The company has a 50 day moving average price of $165.71 and a two-hundred day moving average price of $173.58.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. The business had revenue of $2.32 billion during 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, equities analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Monday, April 21st. Zoetis’s dividend payout ratio is 36.56%.

Analyst Ratings Changes

Several analysts have issued reports on ZTS shares. Piper Sandler boosted their target price on shares of Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Barclays upped their price target on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Morgan Stanley dropped 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. Finally, UBS Group initiated coverage on shares of Zoetis in a report on Monday, December 9th. They set a “neutral” rating and a $196.00 price target for the company. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $215.90.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $170.00, for a total value of $55,420.00. Following the transaction, the executive vice president now directly owns 15,781 shares in the company, valued at approximately $2,682,770. This trade represents a 2.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Willie M. Reed sold 1,210 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was 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 approximately $1,868,244.30. This represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,862 shares of company stock valued at $312,254. 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.