Mitsubishi UFJ Trust & Banking Corp Increases Holdings in Zoetis Inc. (NYSE:ZTS)

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Zoetis Inc. (NYSE:ZTS) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 282,801 shares of the company’s stock after purchasing an additional 30,407 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Zoetis worth $46,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ZTS. Atlantic Edge Private Wealth Management LLC grew its stake in shares of Zoetis by 482.8% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Rakuten Securities Inc. lifted its position in Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock valued at $28,000 after purchasing an additional 166 shares during the period. Dunhill Financial LLC boosted its holdings in Zoetis by 80.6% in the third quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock worth $33,000 after purchasing an additional 75 shares during the last quarter. Asset Planning Inc bought a new stake in Zoetis in the 4th quarter worth approximately $58,000. Finally, Quarry LP increased its position in Zoetis by 45.9% during the third quarter. Quarry LP now owns 305 shares of the company’s stock valued at $60,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Down 1.2 %

ZTS stock opened at $161.29 on Wednesday. The company has a market capitalization of $72.22 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 2.78 and a beta of 0.94. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $200.33. The business has a 50 day simple moving average of $166.64 and a two-hundred day simple moving average of $175.02.

Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. Research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be given a $0.50 dividend. The ex-dividend date is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.24%. Zoetis’s dividend payout ratio is currently 36.56%.

Insider Activity at Zoetis

In other news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total transaction of $55,804.68. Following the completion of the transaction, the executive vice president now directly owns 16,107 shares in the company, valued at approximately $2,757,196.26. This represents a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the transaction, the director now directly owns 11,245 shares of the company’s stock, valued at approximately $1,868,244.30. This trade represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,862 shares of company stock valued at $312,254. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZTS. Morgan Stanley cut their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Barclays upped their target price on shares of Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler raised their target price on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, Leerink Partners initiated coverage on Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $215.90.

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.