Sompo Asset Management Co. Ltd. Acquires 90 Shares of Zoetis Inc. (NYSE:ZTS)

Sompo Asset Management Co. Ltd. raised its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,340 shares of the company’s stock after buying an additional 90 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Zoetis were worth $1,043,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ZTS. Mizuho Securities USA LLC increased its stake in shares of Zoetis by 13,726.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock worth $950,524,000 after purchasing an additional 4,829,815 shares in the last quarter. Sarasin & Partners LLP raised its stake in shares of Zoetis by 546.3% in the second quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after buying an additional 1,904,899 shares during the period. Swedbank AB purchased a new position in shares of Zoetis during the 1st quarter valued at about $210,815,000. International Assets Investment Management LLC lifted its position in shares of Zoetis by 41,235.7% during the 3rd quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock valued at $183,652,000 after buying an additional 937,700 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Zoetis by 7,608.6% during the 2nd quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock valued at $144,874,000 after acquiring an additional 824,843 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ZTS. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on shares of 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 price target on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler boosted their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, BTIG Research increased their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $221.44.

Zoetis Stock Up 0.1 %

Shares of ZTS opened at $176.96 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. The stock has a market capitalization of $79.84 billion, a price-to-earnings ratio of 33.26, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The business’s 50 day simple moving average is $185.62 and its 200-day simple moving average is $180.61.

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

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.98%. Zoetis’s dividend payout ratio is currently 32.52%.

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.