Wellington Management Group LLP Reduces Stake in Zoetis Inc. (NYSE:ZTS)

Wellington Management Group LLP trimmed its position in shares of Zoetis Inc. (NYSE:ZTS) by 58.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,899,288 shares of the company’s stock after selling 5,541,594 shares during the quarter. Wellington Management Group LLP owned approximately 0.86% of Zoetis worth $761,843,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ZTS. Darwin Wealth Management LLC acquired a new stake in Zoetis in the 3rd quarter valued at about $31,000. First Personal Financial Services acquired a new stake in shares of Zoetis in the third quarter valued at approximately $33,000. Capital Performance Advisors LLP purchased a new position in shares of Zoetis during the 3rd quarter worth approximately $33,000. Quarry LP increased its stake in shares of Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after purchasing an additional 153 shares in the last quarter. Finally, Fortitude Family Office LLC raised its position in shares of Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Price Performance

ZTS stock opened at $176.46 on Friday. The stock has a 50-day moving average price of $182.43 and a two-hundred day moving average price of $180.93. The company has a market cap of $79.61 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 2.86 and a beta of 0.89. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92.

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

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st were given a dividend of $0.432 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. Zoetis’s dividend payout ratio (DPR) is 32.52%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ZTS. JPMorgan Chase & Co. raised their price target 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 started coverage on Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective for the company. Argus raised shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. BTIG Research upped their price objective on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Piper Sandler lifted their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Eleven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and a consensus target price of $220.80.

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.