MTM Investment Management LLC Decreases Holdings in Zoetis Inc. (NYSE:ZTS)

MTM Investment Management LLC cut its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,320 shares of the company’s stock after selling 99 shares during the quarter. MTM Investment Management LLC’s holdings in Zoetis were worth $704,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. State Street Corp increased its holdings in Zoetis by 0.5% in the 3rd quarter. State Street Corp now owns 19,779,344 shares of the company’s stock worth $3,864,488,000 after acquiring an additional 95,856 shares during the last quarter. Geode Capital Management LLC increased its holdings in Zoetis by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,427,760 shares of the company’s stock worth $2,030,813,000 after acquiring an additional 185,364 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in Zoetis by 13,726.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock worth $950,524,000 after acquiring an additional 4,829,815 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Zoetis by 5.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,896,106 shares of the company’s stock worth $761,221,000 after acquiring an additional 194,542 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Zoetis by 10.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company’s stock worth $569,834,000 after acquiring an additional 279,092 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

Shares of NYSE ZTS opened at $173.99 on Thursday. The stock has a market cap of $78.50 billion, a price-to-earnings ratio of 32.70, a P/E/G ratio of 2.77 and a beta of 0.90. 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 1-year low of $144.80 and a 1-year high of $200.53. The stock’s 50-day moving average is $169.11 and its 200 day moving average is $179.11.

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. Zoetis’s dividend payout ratio is 37.59%.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the transaction, the executive vice president now directly owns 16,107 shares of the company’s stock, valued at $2,757,196.26. The trade was a 1.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ZTS shares. UBS Group started coverage on Zoetis in a research note on Monday, December 9th. They issued a “neutral” rating and a $196.00 target price for the company. Leerink Partners started coverage on Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price for the company. Morgan Stanley cut their target price on Zoetis from $248.00 to $243.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Stifel Nicolaus cut their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $214.00.

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.