Zoetis Inc. (NYSE:ZTS) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,501 shares of the company’s stock after selling 716 shares during the quarter. Hartford Investment Management Co.’s holdings in Zoetis were worth $5,569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Webster Bank N. A. boosted its holdings in shares of Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares in the last quarter. 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 valued at $36,000 after purchasing an additional 153 shares in the last quarter. LRI Investments LLC acquired a new position in Zoetis during the 1st quarter worth approximately $43,000. Central Valley Advisors LLC acquired a new position in Zoetis during the 2nd quarter worth approximately $49,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Zoetis during the 1st quarter worth approximately $51,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Trading Down 0.7 %

NYSE ZTS traded down $1.36 during mid-day trading on Wednesday, hitting $188.15. The company’s stock had a trading volume of 122,448 shares, compared to its average volume of 2,501,690. The firm has a market capitalization of $85.85 billion, a P/E ratio of 36.52, a price-to-earnings-growth ratio of 3.00 and a beta of 0.89. 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 Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The stock’s fifty day simple moving average is $189.11 and its two-hundred day simple moving average is $177.50.

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

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.92%. Zoetis’s dividend payout ratio is currently 33.14%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ZTS shares. JPMorgan Chase & Co. lifted their price target on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. BTIG Research boosted their target price on shares of 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 report on Friday, August 9th. Stifel Nicolaus boosted their price objective on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Sandler upped their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average 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.