Invesco Ltd. Sells 4,732,251 Shares of ZTO Express (Cayman) Inc. (NYSE:ZTO)

Key Points

• Invesco Ltd. sold 4,732,251 shares of ZTO Express (Cayman) Inc., reducing its stake by 51.6%, leaving it with approximately 4.45 million shares valued at $88.2 million.
• Despite this sell-off by Invesco, several institutional investors like Marshall Wace LLP and XY Capital Ltd have significantly increased their stakes in ZTO Express, indicating a mix of investor sentiment.
• Analyst ratings for ZTO Express vary, with a consensus "Moderate Buy" and a target price of $21.76, but some analysts have recently downgraded their price targets.

Invesco Ltd. reduced its position in shares of ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) by 51.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,445,514 shares of the transportation company's stock after selling 4,732,251 shares during the period. Invesco Ltd. owned about 0.74% of ZTO Express (Cayman) worth $88,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP lifted its stake in shares of ZTO Express (Cayman) by 831.6% in the fourth quarter. Marshall Wace LLP now owns 1,168,821 shares of the transportation company's stock worth $22,850,000 after acquiring an additional 1,043,359 shares during the period. XY Capital Ltd lifted its stake in shares of ZTO Express (Cayman) by 162.4% in the first quarter. XY Capital Ltd now owns 1,041,263 shares of the transportation company's stock worth $20,659,000 after acquiring an additional 644,390 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of ZTO Express (Cayman) by 46.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 826,850 shares of the transportation company's stock worth $16,165,000 after acquiring an additional 262,280 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of ZTO Express (Cayman) by 31.1% in the first quarter. Envestnet Asset Management Inc. now owns 577,800 shares of the transportation company's stock worth $11,464,000 after acquiring an additional 137,202 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in shares of ZTO Express (Cayman) in the fourth quarter worth approximately $10,802,000. 41.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

ZTO Express (Cayman) Stock Performance

Shares of ZTO stock opened at $19.92 on Friday. The company has a market cap of $11.92 billion, a P/E ratio of 12.61, a PEG ratio of 3.00 and a beta of -0.18. The stock has a 50 day simple moving average of $18.72 and a two-hundred day simple moving average of $18.88. ZTO Express has a fifty-two week low of $16.34 and a fifty-two week high of $27.50.

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.

Want to see what other hedge funds are holding ZTO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.