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

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Zoetis Inc. (NYSE:ZTS) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 116,979 shares of the company’s stock, valued at approximately $8,169,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Flossbach Von Storch SE acquired a new stake in shares of Zoetis in the second quarter valued at $302,601,000. BlackRock Inc. raised its holdings in shares of Zoetis by 10.8% in the second quarter. BlackRock Inc. now owns 39,430,181 shares of the company’s stock valued at $2,833,453,000 after buying an additional 3,845,869 shares during the last quarter. Ruane Cunniff & Goldfarb L.P. acquired a new position in Zoetis during the 1st quarter worth about $286,660,000. Southpoint Capital Advisors LP lifted its position in Zoetis by 340.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 2,200,000 shares of the company’s stock worth $260,062,000 after buying an additional 1,700,000 shares in the last quarter. Finally, Carmignac Gestion bought a new stake in Zoetis during the 2nd quarter worth about $113,230,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Price Performance

Zoetis stock opened at $88.60 on Thursday. The business’s 50-day simple moving average is $75.50 and its 200 day simple moving average is $93.03. The stock has a market cap of $36.61 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.23 and a beta of 0.67. Zoetis Inc. has a 12-month low of $68.77 and a 12-month high of $132.49. The company has a quick ratio of 1.84, a current ratio of 3.08 and a debt-to-equity ratio of 2.87.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data 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. Zoetis had a return on equity of 74.89% and a net margin of 27.49%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business posted $1.76 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts anticipate that Zoetis Inc. will post 6.15 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, October 30th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, October 30th. Zoetis’s dividend payout ratio (DPR) is 34.93%.

Wall Street Analyst Weigh In

ZTS has been the subject of several research reports. William Blair cut shares of Zoetis from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 6th. Stifel Nicolaus reduced their target price on shares of Zoetis from $85.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday, August 20th. Weiss Ratings raised shares of Zoetis from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 29th. Cantor Fitzgerald set a $94.00 price objective on shares of Zoetis in a research report on Tuesday, August 25th. Finally, UBS Group boosted their price objective on shares of Zoetis from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 27th. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Zoetis currently has a consensus rating of “Hold” and an average target price of $93.79.

About Zoetis

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.