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

TCW Group Inc. lessened its position in Zoetis Inc. (NYSE:ZTS) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 631,595 shares of the company’s stock after selling 57,056 shares during the period. Zoetis accounts for about 1.1% of TCW Group Inc.’s portfolio, making the stock its 26th biggest holding. TCW Group Inc. owned about 0.14% of Zoetis worth $123,401,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Simplify Asset Management Inc. acquired a new position in shares of Zoetis in the third quarter valued at approximately $11,684,000. B&L Asset Management LLC acquired a new position in shares of Zoetis during the third quarter worth $563,000. Swedbank AB grew its stake in shares of Zoetis by 56.2% in the second quarter. Swedbank AB now owns 1,946,277 shares of the company’s stock worth $337,407,000 after purchasing an additional 700,398 shares during the last quarter. Dai ichi Life Insurance Company Ltd increased its holdings in Zoetis by 16.3% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 74,499 shares of the company’s stock valued at $14,556,000 after purchasing an additional 10,427 shares during the period. Finally, Raymond James & Associates raised its position in Zoetis by 6.1% during the 2nd quarter. Raymond James & Associates now owns 794,419 shares of the company’s stock worth $137,720,000 after purchasing an additional 45,597 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZTS. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Piper Sandler raised their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus upped their price objective on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. UBS Group began coverage on shares of Zoetis in a research note on Monday. They set a “neutral” rating and a $196.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One investment 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $216.70.

Zoetis Price Performance

Shares of ZTS opened at $176.71 on Wednesday. The stock has a market cap of $79.73 billion, a P/E ratio of 33.22, a P/E/G ratio of 2.88 and a beta of 0.89. The business’s fifty day moving average is $181.72 and its 200 day moving average is $181.12. 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 12-month low of $144.80 and a 12-month high of $201.92.

Zoetis (NYSE:ZTS) last issued 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. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period last year, the company earned $1.36 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st were issued a dividend of $0.432 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.98%. Zoetis’s dividend payout ratio (DPR) is currently 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.