Pzena Investment Management LLC Sells 131,683 Shares of ZTO Express (Cayman) Inc. (NYSE:ZTO)

Pzena Investment Management LLC cut its position in ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,728,602 shares of the transportation company's stock after selling 131,683 shares during the quarter. Pzena Investment Management LLC owned about 1.29% of ZTO Express (Cayman) worth $153,335,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of ZTO Express (Cayman) by 6.4% in the first 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. UMB Bank n.a. grew its position 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 purchasing an additional 664 shares in the last quarter. TB Alternative Assets Ltd. purchased a new position in shares of ZTO Express (Cayman) in the first quarter valued at $1,640,000. LPL Financial LLC purchased a new position in shares of ZTO Express (Cayman) in the fourth quarter valued at $232,000. Finally, Polymer Capital Management HK LTD purchased a new position in shares of ZTO Express (Cayman) in the fourth quarter valued at $1,948,000. 41.65% of the stock is currently owned by institutional investors.

ZTO Express (Cayman) Stock Performance

ZTO Express (Cayman) stock traded up $0.14 during midday trading on Thursday, hitting $18.31. 1,877,684 shares of the company's stock were exchanged, compared to its average volume of 2,718,858. ZTO Express has a 52-week low of $16.34 and a 52-week high of $27.50. The stock has a 50-day moving average price of $17.79 and a two-hundred day moving average price of $18.73. The company has a market cap of $10.95 billion, a P/E ratio of 11.59, a PEG ratio of 2.75 and a beta of -0.18.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup reduced their price target on 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 target on ZTO Express (Cayman) in a research report on Wednesday, July 2nd. Bank of America cut ZTO Express (Cayman) from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $24.00 to $19.00 in a research report on Thursday, May 22nd. Wall Street Zen cut ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Hsbc Global Res upgraded ZTO Express (Cayman) from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.