California State Teachers Retirement System Acquires 47,041,186 Shares of Zoetis Inc. $ZTS

Key Points

• California State Teachers Retirement System dramatically increased its Zoetis stake by purchasing 47.04 million additional shares in the second quarter, bringing its holdings to 47.75 million shares valued at approximately $3.43 billion, or 11.55% of the company.
• Analyst sentiment is mixed: Zoetis has an overall “Hold” consensus rating, with a $101.08 average price target, while several firms recently lowered their targets and ratings.
• Zoetis shares opened at $73, near their 12-month low of $71 and well below the $152 high. The company slightly beat quarterly EPS expectations at $1.87, though revenue of $2.47 billion declined 0.2% year over year.

California State Teachers Retirement System increased its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 6,680.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,745,365 shares of the company's stock after buying an additional 47,041,186 shares during the period. California State Teachers Retirement System owned 11.55% of Zoetis worth $3,430,982,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ZTS. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Zoetis during the second quarter valued at $25,000. Dunhill Financial LLC boosted its stake in Zoetis by 519.3% during the 2nd quarter. Dunhill Financial LLC now owns 353 shares of the company's stock worth $25,000 after acquiring an additional 296 shares during the last quarter. Prosperity Bancshares Inc bought a new stake in shares of Zoetis in the 4th quarter valued at $25,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Zoetis in the first quarter worth about $28,000. Finally, Root Financial Partners LLC increased its stake in Zoetis by 66.5% during the 1st quarter. Root Financial Partners LLC now owns 258 shares of the company's stock worth $30,000 after purchasing an additional 103 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ZTS. Weiss Ratings downgraded Zoetis from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, June 12th. Citigroup cut their price target on Zoetis from $112.00 to $96.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Cantor Fitzgerald set a $94.00 target price on shares of Zoetis in a report on Tuesday, August 25th. Zacks Research cut shares of Zoetis from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Finally, Barclays dropped their price target on shares of Zoetis from $136.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 1st. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $101.08.

Zoetis Price Performance

Shares of ZTS stock opened at $73.00 on Friday. The company has a market cap of $30.16 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.71 and a beta of 0.73. The company has a quick ratio of 1.84, a current ratio of 3.08 and a debt-to-equity ratio of 2.87. Zoetis Inc. has a twelve month low of $71.00 and a twelve month high of $152.00. The business has a fifty day simple moving average of $75.60 and a 200 day simple moving average of $92.10.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.50 billion. Zoetis had a net margin of 27.49% and a return on equity of 74.89%. The firm's revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.76 EPS. Zoetis has set its FY 2026 guidance at 6.150-6.250 EPS. On average, sell-side analysts forecast that Zoetis Inc. will post 6.2 EPS for the current fiscal year.

About Zoetis

Zoetis Inc is a global animal health company that develops, manufactures and commercializes medicines, vaccines, diagnostic products and related services for livestock and companion animals. Its offerings are used by veterinarians, livestock producers and pet owners to prevent and treat disease, improve animal health and support productivity.

The company's product portfolio includes pharmaceuticals, vaccines, parasiticides, dermatology treatments, diagnostic tests and genetic services.

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