Korea Investment CORP Reduces Stock Position in Zoetis Inc. $ZTS

by · The Cerbat Gem

Korea Investment CORP lowered its holdings in shares of Zoetis Inc. (NYSE:ZTS – Free Report) by 22.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 256,003 shares of the company’s stock after selling 72,153 shares during the quarter. Korea Investment CORP owned 0.06% of Zoetis worth $42,151,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Coppell Advisory Solutions LLC boosted its holdings in Zoetis by 18.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company’s stock valued at $68,000 after acquiring an additional 64 shares during the period. Lindbrook Capital LLC raised its position in Zoetis by 1.8% during the 1st quarter. Lindbrook Capital LLC now owns 3,715 shares of the company’s stock valued at $612,000 after purchasing an additional 65 shares in the last quarter. Quotient Wealth Partners LLC raised its position in Zoetis by 2.3% during the 1st quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company’s stock valued at $521,000 after purchasing an additional 72 shares in the last quarter. Broadway Wealth Solutions Inc. raised its position in Zoetis by 4.4% during the 1st quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company’s stock valued at $287,000 after purchasing an additional 73 shares in the last quarter. Finally, Menard Financial Group LLC raised its position in Zoetis by 3.8% during the 1st quarter. Menard Financial Group LLC now owns 2,032 shares of the company’s stock valued at $305,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 652 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the transaction, the executive vice president directly owned 15,129 shares in the company, valued at $2,571,930. The trade was a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Zoetis Trading Down 1.2%

ZTS opened at $152.28 on Tuesday. The firm has a market cap of $67.49 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 2.47 and a beta of 0.88. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. The stock has a fifty day moving average price of $154.69 and a 200-day moving average price of $158.90.

Zoetis (NYSE:ZTS – Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.62 by $0.14. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company posted $1.56 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, July 18th. Zoetis’s payout ratio is 34.42%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ZTS. UBS Group decreased their target price on Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Leerink Partners lowered Zoetis from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Piper Sandler lifted their target price on Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday, August 11th. Stifel Nicolaus lowered Zoetis from a “buy” rating to a “hold” rating and decreased their target price for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Finally, Leerink Partnrs lowered Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $202.43.

Get Our Latest Analysis on ZTS

Zoetis Profile

(Free Report)

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.

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