Martingale Asset Management L P Decreases Stake in Zoetis Inc. (NYSE:ZTS)

Martingale Asset Management L P lowered its position in shares of Zoetis Inc. (NYSE:ZTS) by 22.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 86,638 shares of the company’s stock after selling 25,479 shares during the quarter. Martingale Asset Management L P’s holdings in Zoetis were worth $16,927,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ZTS. Darwin Wealth Management LLC purchased a new position in Zoetis in the 3rd quarter worth approximately $31,000. First Personal Financial Services purchased a new position in Zoetis in the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new position in Zoetis in the 3rd quarter worth approximately $33,000. Quarry LP boosted its holdings in Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after acquiring an additional 153 shares during the period. Finally, LRI Investments LLC purchased a new position in Zoetis in the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

ZTS stock opened at $176.74 on Friday. 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 firm has a market cap of $79.74 billion, a P/E ratio of 33.22, a P/E/G ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The stock’s 50 day simple moving average is $184.18 and its 200 day simple moving average is $180.78.

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

Zoetis Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Piper Sandler upped their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research upped their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus upped their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. upped their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Ten investment 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, the company currently has an average rating of “Buy” and a consensus target price 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.