State Street Corp Reduces Stock Position in ZTO Express (Cayman) Inc. $ZTO

Key Points

• State Street reduced its ZTO Express position by 5.4% in the second quarter, selling 54,102 shares and retaining 949,365 shares valued at approximately $21.25 million. Institutional investors collectively own 41.65% of the company.
• ZTO reported quarterly EPS of $0.56, exceeding estimates of $0.50, while revenue rose 23% year over year to $2.14 billion, slightly below expectations.
• Analyst sentiment remains favorable but has weakened: JPMorgan downgraded the stock to neutral and cut its price target to $22, while the consensus rating is “Moderate Buy” with a $26.05 target.

State Street Corp lessened its position in ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) by 5.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 949,365 shares of the transportation company's stock after selling 54,102 shares during the period. State Street Corp owned about 0.17% of ZTO Express (Cayman) worth $21,247,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ZTO. Sequoia Financial Advisors LLC lifted its stake in shares of ZTO Express (Cayman) by 6.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 20,348 shares of the transportation company's stock worth $512,000 after purchasing an additional 1,207 shares during the period. GSA Capital Partners LLP grew its position in shares of ZTO Express (Cayman) by 1.3% during the 2nd quarter. GSA Capital Partners LLP now owns 113,112 shares of the transportation company's stock valued at $2,531,000 after acquiring an additional 1,422 shares during the period. Confluence Investment Management LLC grew its position in shares of ZTO Express (Cayman) by 11.4% during the 2nd quarter. Confluence Investment Management LLC now owns 13,966 shares of the transportation company's stock valued at $313,000 after acquiring an additional 1,426 shares during the period. Leonteq Securities AG bought a new stake in shares of ZTO Express (Cayman) during the 4th quarter valued at $30,000. Finally, Corient Private Wealth LP increased its stake in shares of ZTO Express (Cayman) by 12.1% in the 2nd quarter. Corient Private Wealth LP now owns 15,186 shares of the transportation company's stock worth $340,000 after purchasing an additional 1,640 shares in the last quarter. Hedge funds and other institutional investors own 41.65% of the company's stock.

ZTO Express (Cayman) Trading Up 0.3%

Shares of NYSE ZTO opened at $19.52 on Friday. The business has a fifty day moving average price of $22.06 and a 200 day moving average price of $23.21. ZTO Express has a 1-year low of $18.11 and a 1-year high of $26.20. The stock has a market capitalization of $10.88 billion, a P/E ratio of 10.50, a price-to-earnings-growth ratio of 0.75 and a beta of -0.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.67 and a quick ratio of 1.67.

ZTO Express (Cayman) (NYSE:ZTO - Get Free Report) last posted its quarterly earnings results on Saturday, August 15th. The transportation company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.06. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.15 billion. ZTO Express (Cayman) had a net margin of 19.03% and a return on equity of 15.90%. The company's quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts expect that ZTO Express will post 1.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Zacks Research cut ZTO Express (Cayman) from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Wall Street Zen lowered shares of ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a report on Saturday, September 19th. Weiss Ratings cut shares of ZTO Express (Cayman) from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 31st. Finally, JPMorgan Chase & Co. cut shares of ZTO Express (Cayman) from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $29.00 to $22.00 in a research note on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $26.05.

ZTO Express (Cayman) Company Profile

ZTO Express (Cayman) Inc is a China-based express delivery and logistics company. Through its operating network, the company provides parcel collection, sorting, transportation and delivery services for e-commerce merchants, businesses and individual customers.

ZTO's services primarily cover domestic express delivery in China and are supported by distribution hubs, sorting facilities, transportation routes, delivery outlets and third-party network partners. The company also offers logistics-related services, including freight forwarding and other supply-chain solutions, while serving the needs of China's growing online retail market.

Founded in 2002, ZTO has expanded its operations alongside the development of China's e-commerce sector.

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