Intech Investment Management LLC Has $8.20 Million Holdings in Zoetis Inc. (NYSE:ZTS)

Intech Investment Management LLC trimmed its position in shares of Zoetis Inc. (NYSE:ZTS) by 75.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 quarter.

Other hedge funds also recently made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in shares of Zoetis in the 3rd quarter valued at approximately $31,000. First Personal Financial Services bought a new position in Zoetis in the 3rd quarter valued at approximately $33,000. Capital Performance Advisors LLP bought a new position in Zoetis during the 3rd quarter worth approximately $33,000. Quarry LP raised its holdings in 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 during the last quarter. Finally, LRI Investments LLC bought a new position in Zoetis during the 1st quarter worth approximately $43,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

NYSE ZTS opened at $176.71 on Friday. The company has a fifty day simple moving average of $185.90 and a 200 day simple moving average of $180.45. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. 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 company has a market cap of $79.73 billion, a P/E ratio of 33.22, a PEG ratio of 2.69 and a beta of 0.90.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data 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 for 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 business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 EPS. Sell-side analysts predict that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio is 32.52%.

Analysts Set New Price Targets

Several research analysts have issued reports on ZTS shares. JPMorgan Chase & Co. raised their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Stifel Nicolaus raised their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. BTIG Research raised their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Piper Sandler raised their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. 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 stock has an average rating of “Buy” and an average target price of $221.44.

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.