Martingale Asset Management L P Sells 25,479 Shares of Zoetis Inc. (NYSE:ZTS)

Martingale Asset Management L P trimmed its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 22.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in Zoetis in the third quarter worth $31,000. First Personal Financial Services purchased a new stake in shares of Zoetis in the 3rd quarter worth about $33,000. Capital Performance Advisors LLP bought a new position in shares of Zoetis in the 3rd quarter worth about $33,000. Quarry LP lifted its position 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 acquiring an additional 153 shares during the period. Finally, LRI Investments LLC purchased a new stake in Zoetis in the first quarter worth about $43,000. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Stock Performance

ZTS traded down $1.49 during midday trading on Friday, reaching $175.25. The company had a trading volume of 1,543,411 shares, compared to its average volume of 2,545,742. The business has a 50-day moving average of $184.18 and a two-hundred day moving average of $180.78. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a market cap of $79.07 billion, a P/E ratio of 33.22, a P/E/G ratio of 2.71 and a beta of 0.90.

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

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Thursday, October 31st. Zoetis's dividend payout ratio (DPR) is 32.52%.

Wall Street Analyst Weigh In

Several research firms have commented on ZTS. Piper Sandler boosted their target price on Zoetis from $195.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday, August 14th. BTIG Research increased their target price on Zoetis from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, August 12th. JPMorgan Chase & Co. increased their price objective on Zoetis from $225.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Stifel Nicolaus raised their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Finally, Argus upgraded shares of Zoetis to a "strong-buy" rating in a report on Friday, August 9th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zoetis presently has an average rating of "Buy" and an average 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.