Caisse DE Depot ET Placement DU Quebec Reduces Stock Holdings in ZTO Express (Cayman) Inc. $ZTO

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its holdings in ZTO Express (Cayman) by 21.1%, owning approximately 0.05% of the company worth $6.04 million after selling 81,500 shares in Q1.
• Despite the reduction in Caisse DE Depot's stake, other institutional investors increased their positions significantly, with UMB Bank n.a. raising its stake by 106.4% and Brooklyn Investment Group lifting its stake by an astonishing 443,600%.
• ZTO Express (Cayman) recently declared a semi-annual $0.29 dividend, with a dividend yield of 330.0%, indicating strong shareholder returns amidst fluctuations in stock performance.

Caisse DE Depot ET Placement DU Quebec reduced its position in ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 304,635 shares of the transportation company's stock after selling 81,500 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.05% of ZTO Express (Cayman) worth $6,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in shares of ZTO Express (Cayman) by 106.4% in the 1st quarter. UMB Bank n.a. now owns 1,288 shares of the transportation company's stock valued at $26,000 after purchasing an additional 664 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of ZTO Express (Cayman) by 6.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,212 shares of the transportation company's stock valued at $242,000 after purchasing an additional 730 shares during the period. First Horizon Advisors Inc. raised its position in ZTO Express (Cayman) by 70.8% during the first quarter. First Horizon Advisors Inc. now owns 2,132 shares of the transportation company's stock worth $42,000 after acquiring an additional 884 shares during the period. Aurora Investment Counsel raised its position in ZTO Express (Cayman) by 1.0% during the first quarter. Aurora Investment Counsel now owns 138,210 shares of the transportation company's stock worth $2,742,000 after acquiring an additional 1,310 shares during the period. Finally, Fifth Third Bancorp raised its position in ZTO Express (Cayman) by 1.9% during the first quarter. Fifth Third Bancorp now owns 73,902 shares of the transportation company's stock worth $1,466,000 after acquiring an additional 1,384 shares during the period. 41.65% of the stock is currently owned by institutional investors and hedge funds.

ZTO Express (Cayman) Price Performance

Shares of ZTO traded down $0.35 during mid-day trading on Tuesday, reaching $17.86. The stock had a trading volume of 983,801 shares, compared to its average volume of 2,521,417. ZTO Express has a 52-week low of $16.34 and a 52-week high of $27.50. The business's fifty day moving average is $19.07 and its 200 day moving average is $18.87. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 12.06 and a beta of -0.15.

ZTO Express (Cayman) Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a dividend yield of 330.0%. ZTO Express (Cayman)'s dividend payout ratio is currently 45.95%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of ZTO Express (Cayman) from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $23.00 to $21.00 in a research report on Thursday, May 29th. Citigroup reduced their price objective on shares of ZTO Express (Cayman) from $26.40 to $22.60 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Morgan Stanley set a $24.20 price objective on shares of ZTO Express (Cayman) in a research report on Wednesday, July 2nd. Bank of America upped their price objective on shares of ZTO Express (Cayman) from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Finally, Wall Street Zen cut shares of ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $22.36.

About ZTO Express (Cayman)

ZTO Express (Cayman) Inc provides express delivery and other value-added logistics services in the People's Republic of China. It offers freight forwarding services; and delivery services for e-commerce and traditional merchants, and other express service users. The company was founded in 2002 and is headquartered in Shanghai, the People's Republic of China.