Taikang Asset Management Hong Kong Co Ltd Reduces Stock Position in Zoetis Inc. (NYSE:ZTS)

Taikang Asset Management Hong Kong Co Ltd lowered its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 50.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,940 shares of the company's stock after selling 25,940 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd's holdings in Zoetis were worth $4,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several 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 in the last quarter. Rakuten Securities Inc. boosted its stake in shares of Zoetis by 5,533.3% during the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock worth $28,000 after acquiring an additional 166 shares in the last quarter. Dunhill Financial LLC boosted its holdings in Zoetis by 80.6% in the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company's stock worth $33,000 after buying an additional 75 shares during the last quarter. Asset Planning Inc acquired a new position in Zoetis during the fourth quarter worth $58,000. Finally, Quarry LP raised its holdings in Zoetis by 45.9% in the 3rd quarter. Quarry LP now owns 305 shares of the company's stock valued at $60,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Price Performance

ZTS stock traded down $1.99 during trading on Friday, reaching $163.03. The company's stock had a trading volume of 1,550,283 shares, compared to its average volume of 2,595,079. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $73.00 billion, a P/E ratio of 29.80, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The company's fifty day moving average is $166.40 and its 200-day moving average is $174.55. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $200.33.

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Zoetis (NYSE:ZTS - Get Free Report) last posted 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. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.30 billion. On average, research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%. Zoetis's payout ratio is 36.56%.

Analysts Set New Price Targets

A number of analysts have weighed in on ZTS shares. Leerink Partners assumed coverage on Zoetis in a research note on Monday, December 2nd. They issued an "outperform" rating and a $215.00 price target on the stock. Leerink Partnrs raised Zoetis to a "strong-buy" rating in a research note on Monday, December 2nd. Morgan Stanley reduced their price target on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. UBS Group initiated coverage on Zoetis in a research report on Monday, December 9th. They set a "neutral" rating and a $196.00 price target for the company. Finally, Barclays boosted their price objective on Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $215.90.

Insider Activity

In related news, EVP Roxanne Lagano sold 326 shares of the firm's stock in a transaction dated 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 $2,757,196.26. This trade represents a 1.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the sale, 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. Insiders have sold a total of 1,862 shares of company stock worth $312,254 over the last 90 days. 0.16% of the stock is currently owned by company insiders.

Zoetis Company Profile

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.