MetLife Investment Management LLC Sells 4,161 Shares of Zoetis Inc. (NYSE:ZTS)

MetLife Investment Management LLC reduced its stake in Zoetis Inc. (NYSE:ZTS) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,065 shares of the company’s stock after selling 4,161 shares during the quarter. MetLife Investment Management LLC’s holdings in Zoetis were worth $26,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new stake in shares of Zoetis in the 3rd quarter valued at about $31,000. First Personal Financial Services acquired a new stake in Zoetis in the 3rd quarter valued at approximately $33,000. Capital Performance Advisors LLP bought a new stake in Zoetis in the 3rd quarter valued at approximately $33,000. Quarry LP lifted its stake 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 acquiring an additional 153 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Zoetis during the 1st quarter worth approximately $43,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on ZTS shares. Argus upgraded shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research lifted their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Piper Sandler increased their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised their price objective on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus upped their target price on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and an average price target of $221.44.

Zoetis Stock Performance

ZTS traded up $2.27 during trading hours on Wednesday, reaching $177.97. The company’s stock had a trading volume of 106,100 shares, compared to its average volume of 2,540,347. The company’s 50-day moving average is $184.91 and its 200-day moving average is $180.84. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The firm has a market cap of $80.29 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 2.74 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.12. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 earnings per share. On average, equities analysts forecast that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Dividend Announcement

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 issued a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio is presently 32.52%.

Zoetis Company 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.