TCW Group Inc. Has $123.40 Million Holdings in Zoetis Inc. (NYSE:ZTS)

TCW Group Inc. lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 631,595 shares of the company's stock after selling 57,056 shares during the period. Zoetis makes up 1.1% of TCW Group Inc.'s portfolio, making the stock its 26th biggest position. TCW Group Inc. owned approximately 0.14% of Zoetis worth $123,401,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Darwin Wealth Management LLC bought a new stake in Zoetis during the third quarter worth about $31,000. First Personal Financial Services acquired a new position in shares of Zoetis during the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP bought a new stake in shares of Zoetis during the 3rd quarter worth approximately $33,000. Dunhill Financial LLC boosted its holdings in shares of Zoetis by 80.6% in the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company's stock valued at $33,000 after buying an additional 75 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company's stock valued at $36,000 after buying an additional 153 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZTS has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective 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. Piper Sandler upped their price objective on Zoetis from $195.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. Leerink Partnrs upgraded Zoetis to a "strong-buy" rating in a research note on Monday, December 2nd. UBS Group started coverage on Zoetis in a research note on Monday. They issued a "neutral" rating and a $196.00 price target on the stock. Finally, Leerink Partners initiated coverage on shares of Zoetis in a research report on Monday, December 2nd. They set an "outperform" rating and a $215.00 price objective for the company. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $216.70.

Zoetis Price Performance

ZTS stock traded up $0.46 during mid-day trading on Wednesday, hitting $177.17. The stock had a trading volume of 1,708,466 shares, compared to its average volume of 2,538,347. The firm has a fifty day simple moving average of $181.37 and a 200 day simple moving average of $181.16. The firm has a market capitalization of $79.93 billion, a P/E ratio of 33.41, a P/E/G ratio of 2.88 and a beta of 0.89. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92.

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

Zoetis Announces Dividend

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

About Zoetis

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.