MTM Investment Management LLC Reduces Position in Zoetis Inc. (NYSE:ZTS)

MTM Investment Management LLC lowered its position in Zoetis Inc. (NYSE:ZTS) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,419 shares of the company’s stock after selling 228 shares during the quarter. MTM Investment Management LLC’s holdings in Zoetis were worth $840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ZTS. First Personal Financial Services purchased a new stake in Zoetis during the 3rd quarter valued at approximately $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Zoetis during the third quarter worth $33,000. Quarry LP grew its position in Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after buying an additional 153 shares during the last quarter. Fortitude Family Office LLC grew its position in Zoetis by 1,387.5% in the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after buying an additional 222 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Zoetis in the 1st quarter valued at $43,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Trading Down 0.5 %

Shares of Zoetis stock opened at $175.57 on Wednesday. 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 business has a 50 day moving average price of $186.47 and a 200 day moving average price of $180.51. The company has a market capitalization of $79.21 billion, a P/E ratio of 33.00, a P/E/G ratio of 2.71 and a beta of 0.90.

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

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a $0.432 dividend. The ex-dividend date of this dividend is 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

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

Zoetis 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.