Meyer Handelman Co. Sells 2,800 Shares of Zoetis Inc. (NYSE:ZTS)

Meyer Handelman Co. decreased its holdings in Zoetis Inc. (NYSE:ZTS) by 29.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,771 shares of the company’s stock after selling 2,800 shares during the period. Meyer Handelman Co.’s holdings in Zoetis were worth $1,323,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Webster Bank N. A. raised its stake in Zoetis by 89.1% in the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the period. Quarry LP lifted its stake in shares of Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares during the last quarter. Neo Ivy Capital Management bought a new position in Zoetis in the 4th quarter valued at about $40,000. LRI Investments LLC acquired a new stake in Zoetis during the first quarter worth approximately $43,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Zoetis by 60.7% in the first quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock valued at $46,000 after purchasing an additional 102 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZTS has been the subject of several recent research reports. Piper Sandler boosted their price target on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. upped their price target on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday. BTIG Research lifted their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Stifel Nicolaus lifted their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Argus raised Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $221.44.

Zoetis Stock Down 0.1 %

Shares of ZTS opened at $190.08 on Friday. The firm has a 50 day simple moving average of $188.07 and a two-hundred day simple moving average of $176.20. The company has a market cap of $86.12 billion, a P/E ratio of 37.20, a P/E/G ratio of 2.95 and a beta of 0.89. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. Zoetis’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 EPS. Research analysts forecast that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is presently 33.86%.

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.