Norinchukin Bank The Boosts Stake in Zoetis Inc. (NYSE:ZTS)

Norinchukin Bank The raised its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 212,587 shares of the company's stock after purchasing an additional 17,574 shares during the period. Zoetis comprises 0.7% of Norinchukin Bank The's portfolio, making the stock its 24th biggest position. Norinchukin Bank The's holdings in Zoetis were worth $34,637,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ZTS. Norges Bank bought a new stake in Zoetis during the fourth quarter valued at about $824,321,000. Wellington Management Group LLP raised its stake in shares of Zoetis by 78.5% during the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock worth $1,133,755,000 after acquiring an additional 3,059,255 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Zoetis during the fourth quarter valued at approximately $196,651,000. Polen Capital Management LLC lifted its position in Zoetis by 17.5% during the fourth quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company's stock valued at $1,219,237,000 after acquiring an additional 1,116,541 shares during the last quarter. Finally, Capital Research Global Investors purchased a new position in Zoetis in the fourth quarter worth $178,688,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Stock Performance

ZTS stock traded up $1.20 during trading on Thursday, hitting $152.11. 1,157,937 shares of the company traded hands, compared to its average volume of 2,517,082. The company has a market cap of $67.87 billion, a PE ratio of 27.81, a P/E/G ratio of 2.78 and a beta of 0.92. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The stock's 50-day simple moving average is $159.06 and its 200 day simple moving average is $169.10. 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 (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.30 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. On average, equities analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis's payout ratio is currently 36.56%.

Insider Activity

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of the company'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 in the company, valued at approximately $1,868,244.30. This represents a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $170.00, for a total transaction of $55,420.00. Following the completion of the sale, the executive vice president now owns 15,781 shares in the company, valued at approximately $2,682,770. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,862 shares of company stock worth $312,254 over the last three months. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ZTS shares. Morgan Stanley decreased their price objective on Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a report on Friday, February 14th. StockNews.com raised Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Stifel Nicolaus decreased their price objective on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Piper Sandler boosted their target price on shares of Zoetis from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Barclays lifted their price objective on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $214.40.

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.