KBC Group NV Sells 98,351 Shares of Zoetis Inc. (NYSE:ZTS)

KBC Group NV decreased its stake in Zoetis Inc. (NYSE:ZTS) by 26.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 276,816 shares of the company’s stock after selling 98,351 shares during the period. KBC Group NV owned 0.06% of Zoetis worth $45,101,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cherry Creek Investment Advisors Inc. raised its holdings in shares of Zoetis by 2.0% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock worth $590,000 after purchasing an additional 58 shares during the period. Grove Bank & Trust lifted its position in shares of Zoetis by 0.5% during the 3rd quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock valued at $2,298,000 after buying an additional 61 shares during the last quarter. Hancock Whitney Corp grew its stake in shares of Zoetis by 0.3% during the 3rd quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock worth $3,628,000 after acquiring an additional 61 shares during the period. Strategy Asset Managers LLC increased its holdings in Zoetis by 3.5% in the 3rd quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company’s stock worth $356,000 after acquiring an additional 62 shares during the last quarter. Finally, Procyon Advisors LLC raised its stake in Zoetis by 1.4% in the 4th quarter. Procyon Advisors LLC now owns 4,712 shares of the company’s stock valued at $768,000 after acquiring an additional 63 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of research reports. Leerink Partnrs upgraded shares of Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. UBS Group started coverage on shares of Zoetis in a research note on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Leerink Partners assumed coverage on Zoetis in a research report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price target for the company. Finally, Stifel Nicolaus cut their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $211.89.

Zoetis Stock Performance

Shares of ZTS opened at $173.07 on Tuesday. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The stock has a 50-day moving average price of $170.10 and a 200-day moving average price of $179.75. The company has a market cap of $78.08 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.53.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from Zoetis’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, January 21st. Zoetis’s dividend payout ratio (DPR) is currently 37.59%.

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.