Mirae Asset Global Investments Co. Ltd. Makes New Investment in Zoetis Inc. $ZTS

Mirae Asset Global Investments Co. Ltd. purchased a new position in Zoetis Inc. (NYSE:ZTS) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 116,979 shares of the company’s stock, valued at approximately $8,169,000.

Other institutional investors also recently modified their holdings of the company. Profund Advisors LLC lifted its position in Zoetis by 226.7% in the third quarter. Profund Advisors LLC now owns 25,433 shares of the company’s stock worth $1,776,000 after purchasing an additional 17,649 shares during the period. ProShare Advisors LLC increased its holdings in Zoetis by 5.6% in the 3rd quarter. ProShare Advisors LLC now owns 115,215 shares of the company’s stock valued at $8,045,000 after buying an additional 6,119 shares during the period. Vise Technologies Inc. raised its stake in shares of Zoetis by 52.9% in the 3rd quarter. Vise Technologies Inc. now owns 14,886 shares of the company’s stock valued at $1,039,000 after buying an additional 5,151 shares in the last quarter. Cidel Asset Management Inc. raised its stake in shares of Zoetis by 17.5% in the 3rd quarter. Cidel Asset Management Inc. now owns 4,003 shares of the company’s stock valued at $280,000 after buying an additional 595 shares in the last quarter. Finally, State of Wyoming raised its stake in shares of Zoetis by 120.9% in the 3rd quarter. State of Wyoming now owns 4,540 shares of the company’s stock valued at $317,000 after buying an additional 2,485 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZTS. Piper Sandler decreased their target price on shares of Zoetis from $90.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Jefferies Financial Group lowered shares of Zoetis from a “buy” rating to a “hold” rating and dropped their price target for the stock from $103.00 to $83.00 in a research report on Tuesday, October 20th. William Blair cut shares of Zoetis from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 6th. BNP Paribas Exane decreased their price objective on Zoetis from $146.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Finally, Weiss Ratings raised Zoetis from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 29th. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $93.79.

Zoetis Stock Up 6.8%

Shares of NYSE:ZTS opened at $88.60 on Thursday. Zoetis Inc. has a 52 week low of $68.77 and a 52 week high of $132.49. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.84 and a current ratio of 3.08. The company’s fifty day moving average is $75.50 and its 200-day moving average is $93.03. The company has a market capitalization of $36.61 billion, a PE ratio of 14.60, a P/E/G ratio of 1.23 and a beta of 0.67.

Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, August 6th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.50 billion. Zoetis had a net margin of 27.49% and a return on equity of 74.89%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.76 EPS. Equities research analysts predict that Zoetis Inc. will post 6.15 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, October 30th will be given a $0.53 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Zoetis’s payout ratio is 34.93%.

Zoetis Profile

Zoetis Inc is a global animal health company that develops, manufactures and markets medicines, vaccines, diagnostics, genetic products and related services for animals. Its offerings support the prevention, diagnosis and treatment of disease in both companion animals, including dogs, cats and horses, and livestock such as cattle, swine, poultry and fish.

The company’s product portfolio includes prescription medicines, parasiticides, vaccines, veterinary diagnostics and animal genetics.