Connor Clark & Lunn Investment Management Ltd. Trims Stake in ZTO Express (Cayman) Inc. (NYSE:ZTO)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in ZTO Express (Cayman) Inc. by 9.5% during the first quarter, selling 58,976 shares.
• Institutional investors now own 41.65% of ZTO Express, with other hedge funds like Deutsche Bank and Marshall Wace significantly increasing their stakes recently.
• Analysts have mixed views on ZTO Express, with recent rating changes resulting in a consensus price target of $21.76.

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 560,158 shares of the transportation company's stock after selling 58,976 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of ZTO Express (Cayman) worth $11,114,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in shares of 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 valued at $26,000 after buying an additional 664 shares in the last quarter. First Horizon Advisors Inc. grew its stake in ZTO Express (Cayman) by 70.8% during the 1st quarter. First Horizon Advisors Inc. now owns 2,132 shares of the transportation company's stock worth $42,000 after purchasing an additional 884 shares in the last quarter. U S Global Investors Inc. lifted its holdings in ZTO Express (Cayman) by 47.0% during the 1st quarter. U S Global Investors Inc. now owns 10,101 shares of the transportation company's stock worth $200,000 after buying an additional 3,229 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in ZTO Express (Cayman) during the 4th quarter worth about $231,000. Finally, LPL Financial LLC purchased a new stake in ZTO Express (Cayman) during the 4th quarter worth about $232,000. Institutional investors and hedge funds own 41.65% of the company's stock.

ZTO Express (Cayman) Stock Up 1.0%

Shares of ZTO traded up $0.20 on Friday, reaching $20.03. The stock had a trading volume of 713,498 shares, compared to its average volume of 2,524,796. The firm has a market capitalization of $11.98 billion, a PE ratio of 12.67, a PEG ratio of 3.06 and a beta of -0.18. The firm has a 50-day moving average of $18.66 and a 200 day moving average of $18.87. ZTO Express has a twelve month low of $16.34 and a twelve month high of $27.50.

Wall Street Analysts Forecast Growth

ZTO has been the subject of a number of recent analyst reports. Citigroup decreased their price target on ZTO Express (Cayman) from $26.40 to $22.60 and set a "buy" rating for the company in a report on Thursday, May 22nd. JPMorgan Chase & Co. upgraded ZTO Express (Cayman) from a "neutral" rating to an "overweight" rating and dropped their price target for the company from $23.00 to $21.00 in a research report on Thursday, May 29th. Wall Street Zen cut ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Morgan Stanley set a $24.20 price target on ZTO Express (Cayman) in a research report on Wednesday, July 2nd. Finally, Bank of America cut ZTO Express (Cayman) from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $24.00 to $19.00 in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ZTO Express (Cayman) currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.76.

ZTO Express (Cayman) Profile

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.