California Public Employees Retirement System Cuts Stock Position in Zoetis Inc. $ZTS

California Public Employees Retirement System trimmed its position in Zoetis Inc. (NYSE:ZTS) by 9.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,188,124 shares of the company’s stock after selling 124,565 shares during the period. California Public Employees Retirement System owned approximately 0.27% of Zoetis worth $185,288,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ZTS. Vanguard Group Inc. lifted its stake in shares of Zoetis by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 41,886,987 shares of the company’s stock worth $6,532,276,000 after acquiring an additional 330,823 shares during the period. Geode Capital Management LLC raised its holdings in Zoetis by 0.9% during the second quarter. Geode Capital Management LLC now owns 11,081,301 shares of the company’s stock worth $1,721,356,000 after purchasing an additional 95,294 shares in the last quarter. Polen Capital Management LLC lifted its position in Zoetis by 17.6% in the first quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company’s stock valued at $1,448,401,000 after purchasing an additional 1,313,653 shares during the period. Northern Trust Corp boosted its holdings in Zoetis by 1.2% in the 1st quarter. Northern Trust Corp now owns 6,504,902 shares of the company’s stock valued at $1,071,032,000 after purchasing an additional 78,508 shares in the last quarter. Finally, Norges Bank purchased a new stake in Zoetis in the 2nd quarter valued at approximately $809,491,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Down 1.4%

Zoetis stock opened at $118.69 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.28 and a current ratio of 3.64. The firm has a market capitalization of $52.31 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.46 and a beta of 0.97. Zoetis Inc. has a fifty-two week low of $115.25 and a fifty-two week high of $181.85. The stock’s fifty day moving average is $133.77 and its two-hundred day moving average is $147.57.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, November 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.08. Zoetis had a return on equity of 57.19% and a net margin of 28.21%.The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the previous year, the company posted $1.58 EPS. The business’s revenue was up .5% on a year-over-year basis. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Friday, October 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, October 31st. Zoetis’s dividend payout ratio is 33.67%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ZTS shares. Stifel Nicolaus cut their target price on Zoetis from $140.00 to $130.00 and set a “hold” rating for the company in a research note on Tuesday, November 18th. KeyCorp began coverage on Zoetis in a research report on Thursday, November 20th. They issued a “sector weight” rating for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Zoetis in a research report on Wednesday, October 8th. UBS Group lowered their price target on shares of Zoetis from $158.00 to $141.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Zoetis from $230.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Zoetis currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.89.

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.