Legacy Wealth Management LLC MS Trims Stock Position in Zoetis Inc. (NYSE:ZTS)

Legacy Wealth Management LLC MS cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 4.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,914 shares of the company’s stock after selling 891 shares during the period. Zoetis accounts for approximately 1.2% of Legacy Wealth Management LLC MS’s holdings, making the stock its 23rd biggest holding. Legacy Wealth Management LLC MS’s holdings in Zoetis were worth $3,082,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ZTS. JPMorgan Chase & Co. raised its holdings in Zoetis by 10.6% in the third quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company’s stock valued at $569,834,000 after buying an additional 279,092 shares during the period. Simplify Asset Management Inc. purchased a new position in shares of Zoetis during the 3rd quarter valued at approximately $11,684,000. B&L Asset Management LLC acquired a new position in Zoetis during the 3rd quarter worth $563,000. Geode Capital Management LLC lifted its holdings in Zoetis by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,427,760 shares of the company’s stock worth $2,030,813,000 after buying an additional 185,364 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd boosted 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 worth $14,556,000 after purchasing an additional 10,427 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of ZTS traded up $0.45 during mid-day trading on Monday, reaching $163.76. The company had a trading volume of 152,433 shares, compared to its average volume of 1,508,568. The company’s 50 day simple moving average is $173.41 and its 200 day simple moving average is $180.49. The company has a market capitalization of $73.88 billion, a price-to-earnings ratio of 30.78, a P/E/G ratio of 2.91 and a beta of 0.89. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $200.53. 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 released 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 the consensus estimate of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. During the same quarter last year, the business posted $1.36 EPS. Zoetis’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts expect that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.22%. This is an increase from Zoetis’s previous quarterly dividend of $0.43. Zoetis’s dividend payout ratio is currently 37.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Stifel Nicolaus raised their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Leerink Partners started coverage on shares of Zoetis in a report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price target for the company. UBS Group began coverage on Zoetis in a report on Monday, December 9th. They set a “neutral” rating and a $196.00 target price for the company. JPMorgan Chase & Co. raised their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and an average price target of $215.22.

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.