Mirae Asset Global Investments Co. Ltd. Increases Position in Zoetis Inc. $ZTS

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Zoetis Inc. (NYSE:ZTS) by 6.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,851 shares of the company’s stock after purchasing an additional 5,113 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Zoetis were worth $11,684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Savvy Advisors Inc. raised its position in Zoetis by 54.0% in the 2nd quarter. Savvy Advisors Inc. now owns 3,177 shares of the company’s stock valued at $495,000 after purchasing an additional 1,114 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Zoetis by 67.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,886 shares of the company’s stock worth $750,000 after purchasing an additional 1,961 shares during the last quarter. QRG Capital Management Inc. increased its stake in Zoetis by 4.9% in the second quarter. QRG Capital Management Inc. now owns 77,741 shares of the company’s stock valued at $12,124,000 after purchasing an additional 3,616 shares during the period. Consolidated Investment Group LLC raised its holdings in shares of Zoetis by 59.6% in the second quarter. Consolidated Investment Group LLC now owns 26,235 shares of the company’s stock valued at $4,091,000 after buying an additional 9,800 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Zoetis by 10.0% during the second quarter. Nordea Investment Management AB now owns 2,356,166 shares of the company’s stock worth $368,245,000 after buying an additional 214,889 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. HSBC set a $140.00 price target on Zoetis in a research report on Wednesday, December 10th. UBS Group set a $136.00 price target on shares of Zoetis in a report on Thursday. Bank of America downgraded shares of Zoetis from a “buy” rating to a “neutral” rating and set a $135.00 price objective for the company. in a research report on Monday, December 15th. Barclays initiated coverage on Zoetis in a research report on Monday, December 8th. They set an “equal weight” rating and a $136.00 target price on the stock. Finally, Weiss Ratings cut Zoetis from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $152.45.

Zoetis Stock Performance

Shares of ZTS opened at $124.79 on Friday. The company has a current ratio of 3.64, a quick ratio of 2.28 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average of $124.08 and a two-hundred day moving average of $137.26. Zoetis Inc. has a 12-month low of $115.25 and a 12-month high of $177.40. The stock has a market cap of $54.99 billion, a P/E ratio of 21.01, a PEG ratio of 2.10 and a beta of 0.97.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, November 4th. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.08. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.42 billion. Zoetis had a return on equity of 57.19% and a net margin of 28.21%.Zoetis’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, January 20th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This is an increase from Zoetis’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. Zoetis’s dividend payout ratio is 35.69%.

About Zoetis

Zoetis Inc (NYSE: ZTS) is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company’s offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.