Chevy Chase Trust Holdings LLC Sells 5,973 Shares of Zoetis Inc. (NYSE:ZTS)

Chevy Chase Trust Holdings LLC cut its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 247,896 shares of the company's stock after selling 5,973 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Zoetis worth $48,434,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Darwin Wealth Management LLC acquired a new stake in Zoetis in the third quarter worth $31,000. First Personal Financial Services bought a new position in shares of Zoetis during the third quarter worth about $33,000. Capital Performance Advisors LLP bought a new stake in Zoetis in the 3rd quarter valued at about $33,000. Quarry LP boosted its stake in Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company's stock valued at $36,000 after purchasing an additional 153 shares during the period. Finally, Fortitude Family Office LLC boosted its stake in Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company's stock valued at $46,000 after purchasing an additional 222 shares during the period. 92.80% of the stock is owned by institutional investors.

Zoetis Stock Performance

Shares of NYSE:ZTS traded up $1.40 during midday trading on Tuesday, hitting $178.21. The company's stock had a trading volume of 1,386,494 shares, compared to its average volume of 2,539,821. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The stock has a market capitalization of $80.40 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 2.69 and a beta of 0.89. The stock's 50 day simple moving average is $183.83 and its 200 day simple moving average is $180.97.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the business posted $1.36 EPS. The company's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.97%. Zoetis's dividend payout ratio is 32.52%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ZTS. Leerink Partners assumed coverage on Zoetis in a report on Monday. They set an "outperform" rating and a $215.00 price target on the stock. BTIG Research boosted their price target on Zoetis from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, August 12th. Argus upgraded shares of Zoetis to a "strong-buy" rating in a research note on Friday, August 9th. Piper Sandler raised their target price on shares of Zoetis from $195.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. Finally, Leerink Partnrs raised shares of Zoetis to a "strong-buy" rating in a research note on Monday. Eleven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $220.80.

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.