100,500 Shares in ZTO Express (Cayman) Inc. $ZTO Purchased by National Bank of Canada FI

Key Points

• National Bank of Canada FI acquired a stake of $1.99 million in ZTO Express (Cayman) Inc., buying 100,500 shares during the first quarter.
• Several institutional investors have increased their positions in ZTO Express, with UMB Bank n.a. holding the largest increase at 106.4% growth in the same period.
• Analyst ratings for ZTO Express have shifted, with Bank of America downgrading it from a "buy" to a "neutral" rating, while JPMorgan upgraded it to "overweight." The stock has a current consensus target price of $21.76.

National Bank of Canada FI acquired a new position in ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 100,500 shares of the transportation company's stock, valued at approximately $1,994,000.

A number of other hedge funds also recently added to or reduced their stakes in ZTO. LPL Financial LLC purchased a new position in ZTO Express (Cayman) in the 4th quarter worth approximately $232,000. Cerity Partners LLC raised its holdings in ZTO Express (Cayman) by 5.9% in the 4th quarter. Cerity Partners LLC now owns 20,035 shares of the transportation company's stock worth $392,000 after acquiring an additional 1,122 shares during the last quarter. Renaissance Technologies LLC raised its holdings in ZTO Express (Cayman) by 47.8% in the 4th quarter. Renaissance Technologies LLC now owns 333,500 shares of the transportation company's stock worth $6,520,000 after acquiring an additional 107,800 shares during the last quarter. XTX Topco Ltd purchased a new position in ZTO Express (Cayman) in the 4th quarter worth approximately $479,000. Finally, Guggenheim Capital LLC raised its holdings in ZTO Express (Cayman) by 37.9% in the 4th quarter. Guggenheim Capital LLC now owns 20,240 shares of the transportation company's stock worth $396,000 after acquiring an additional 5,568 shares during the last quarter. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

ZTO Express (Cayman) Stock Down 1.6%

ZTO stock traded down $0.3250 during mid-day trading on Tuesday, hitting $19.8850. The company had a trading volume of 867,748 shares, compared to its average volume of 2,529,708. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 3.02 and a beta of -0.18. ZTO Express has a 12-month low of $16.34 and a 12-month high of $27.50. The company has a 50-day moving average price of $18.77 and a 200 day moving average price of $18.89.

Analyst Upgrades and Downgrades

ZTO has been the subject of a number of research analyst reports. Citigroup cut their target price 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. 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. JPMorgan Chase & Co. raised shares of ZTO Express (Cayman) from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $23.00 to $21.00 in a report on Thursday, May 29th. Finally, Bank of America downgraded shares of 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 report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $21.76.

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.