OVERSEA CHINESE BANKING Corp Ltd Purchases 5,181 Shares of Zoetis Inc. (NYSE:ZTS)

OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Zoetis Inc. (NYSE:ZTS) by 3.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 156,335 shares of the company’s stock after purchasing an additional 5,181 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Zoetis were worth $25,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ZTS. Raymond James Financial Inc. acquired a new position in Zoetis in the fourth quarter valued at approximately $196,651,000. Polen Capital Management LLC lifted its stake in shares of Zoetis by 17.5% in the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock valued at $1,219,237,000 after purchasing an additional 1,116,541 shares during the period. Amundi boosted its position in shares of Zoetis by 46.2% in the 4th quarter. Amundi now owns 2,748,719 shares of the company’s stock worth $453,355,000 after purchasing an additional 867,993 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Zoetis by 296.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 889,444 shares of the company’s stock worth $144,917,000 after purchasing an additional 665,331 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Zoetis by 38.3% in the fourth quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company’s stock valued at $336,266,000 after purchasing an additional 572,511 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $170.00, for a total transaction of $55,420.00. Following the sale, the executive vice president now directly owns 15,781 shares of the company’s stock, valued at approximately $2,682,770. This represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction dated 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 1,862 shares of company stock worth $312,254 in the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

ZTS has been the subject of several analyst reports. Stifel Nicolaus decreased their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Leerink Partners assumed coverage on shares of Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price for the company. Barclays lifted their price target on shares of Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Morgan Stanley dropped their target price on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Zoetis currently has a consensus rating of “Buy” and an average price target of $215.90.

Zoetis Stock Performance

Shares of ZTS stock opened at $164.28 on Wednesday. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $200.33. The company’s fifty day simple moving average is $166.83 and its 200-day simple moving average is $175.84. The firm has a market cap of $73.56 billion, a PE ratio of 30.03, a P/E/G ratio of 2.78 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.37 by $0.03. The firm had revenue of $2.32 billion for 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%. Equities research analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, April 21st. Zoetis’s dividend payout ratio (DPR) is 36.56%.

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.