Intech Investment Management LLC Sells 131,542 Shares of Zoetis Inc. (NYSE:ZTS)

Intech Investment Management LLC decreased its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 75.8% in the 3rd quarter, Holdings Channel reports. The firm owned 41,988 shares of the company’s stock after selling 131,542 shares during the period. Intech Investment Management LLC’s holdings in Zoetis were worth $8,204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Darwin Wealth Management LLC purchased a new stake in Zoetis in the third quarter worth approximately $31,000. First Personal Financial Services purchased a new stake in Zoetis in the third quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new stake in Zoetis in the third quarter worth approximately $33,000. Quarry LP boosted its stake in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Zoetis in the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 0.6 %

Shares of ZTS stock opened at $176.71 on Friday. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. The stock’s 50 day simple moving average is $185.90 and its two-hundred day simple moving average is $180.45. The company has a market cap of $79.73 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 2.69 and a beta of 0.90.

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

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.98%. Zoetis’s dividend payout ratio (DPR) is currently 32.52%.

Wall Street Analysts Forecast Growth

ZTS has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. BTIG Research lifted their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Piper Sandler boosted their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus boosted their price target on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Zoetis presently has an average rating of “Buy” and an average target price of $221.44.

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.