Canada Pension Plan Investment Board Takes Position in ZTO Express (Cayman) Inc. $ZTO

Key Points

• The Canada Pension Plan Investment Board has invested approximately $13.95 million in ZTO Express (Cayman) Inc., acquiring 703,100 shares, representing about 0.12% of the company as per their most recent SEC filing.
• Several institutional investors have increased their holdings in ZTO Express, contributing to a total of 41.65% ownership by institutional investors and hedge funds.
• Wall Street analysts have mixed forecasts for ZTO Express, with a consensus rating of "Buy" and a price target of $22.36, but individual ratings vary from "Strong Buy" to "Hold".

Canada Pension Plan Investment Board acquired a new position in ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 703,100 shares of the transportation company's stock, valued at approximately $13,950,000. Canada Pension Plan Investment Board owned 0.12% of ZTO Express (Cayman) at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 in the last quarter. Envestnet Asset Management Inc. increased its holdings in ZTO Express (Cayman) by 31.1% during the first quarter. Envestnet Asset Management Inc. now owns 577,800 shares of the transportation company's stock valued at $11,464,000 after buying an additional 137,202 shares during the period. Cerity Partners LLC raised its stake in ZTO Express (Cayman) by 30.6% in the first quarter. Cerity Partners LLC now owns 26,170 shares of the transportation company's stock worth $519,000 after buying an additional 6,135 shares in the last quarter. UMB Bank n.a. raised its stake in ZTO Express (Cayman) by 106.4% in the first quarter. UMB Bank n.a. now owns 1,288 shares of the transportation company's stock worth $26,000 after buying an additional 664 shares in the last quarter. Finally, TB Alternative Assets Ltd. purchased a new stake in ZTO Express (Cayman) during the first quarter worth $1,640,000. Hedge funds and other institutional investors own 41.65% of the company's stock.

ZTO Express (Cayman) Stock Up 1.0%

Shares of ZTO traded up $0.17 during mid-day trading on Friday, hitting $18.36. 1,726,591 shares of the company traded hands, compared to its average volume of 1,947,182. The company has a market capitalization of $10.99 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 12.16 and a beta of -0.15. The business has a 50 day moving average of $19.10 and a 200 day moving average of $18.81. ZTO Express has a 1-year low of $16.34 and a 1-year high of $27.50.

ZTO Express (Cayman) Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.29 per share. The ex-dividend date is Tuesday, September 30th. This represents a yield of 330.0%. ZTO Express (Cayman)'s dividend payout ratio is presently 45.95%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ZTO. JPMorgan Chase & Co. upgraded ZTO Express (Cayman) from a "neutral" rating to an "overweight" rating and cut their price target for the company from $23.00 to $21.00 in a report on Thursday, May 29th. Bank of America lifted their target price on ZTO Express (Cayman) from $19.00 to $22.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Morgan Stanley set a $24.20 price target on shares of ZTO Express (Cayman) in a research report on Wednesday, July 2nd. Citigroup lowered their price target on shares of ZTO Express (Cayman) from $26.40 to $22.60 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Finally, Wall Street Zen downgraded 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 given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus 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.