Vident Advisory LLC Buys New Shares in ZTO Express (Cayman) Inc. $ZTO

Key Points

• Vident Advisory LLC acquired a new position in ZTO Express (Cayman) Inc., purchasing 61,158 shares valued at approximately $1,213,000 in Q1, 2023.
• Several other institutional investors, including UMB Bank and Brooklyn Investment Group, significantly increased their holdings in ZTO Express, indicating strong interest from the investment community.
• ZTO Express recently declared a semi-annual dividend of $0.29 per share, with a yield of 330.0%, despite a reported dividend payout ratio of 45.95%.

Vident Advisory LLC purchased a new stake in ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 61,158 shares of the transportation company's stock, valued at approximately $1,213,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Deutsche Bank AG raised its holdings in ZTO Express (Cayman) by 100.9% in the 1st quarter. Deutsche Bank AG now owns 20,423 shares of the transportation company's stock worth $405,000 after purchasing an additional 2,398,757 shares during the period. Canada Pension Plan Investment Board acquired a new position in ZTO Express (Cayman) during the first quarter worth $13,950,000. XY Capital Ltd raised 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 valued at $20,659,000 after acquiring an additional 644,390 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in ZTO Express (Cayman) in the fourth quarter valued at $10,802,000. Finally, Hsbc Holdings PLC grew its holdings in shares of ZTO Express (Cayman) by 440.9% during the first quarter. Hsbc Holdings PLC now owns 282,008 shares of the transportation company's stock worth $5,574,000 after buying an additional 229,876 shares during the last quarter. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley set a $24.20 price target on ZTO Express (Cayman) in a research note on Wednesday, July 2nd. Bank of America upped their target price on shares of ZTO Express (Cayman) from $19.00 to $22.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Citigroup dropped their price objective on shares of 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 lowered ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, JPMorgan Chase & Co. upgraded shares of ZTO Express (Cayman) from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $23.00 to $21.00 in a report on Thursday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $22.36.

ZTO Express (Cayman) Stock Up 1.0%

NYSE ZTO traded up $0.17 during midday trading on Friday, hitting $18.36. The company had a trading volume of 1,726,591 shares, compared to its average volume of 1,958,863. The firm has a fifty day simple moving average of $19.10 and a two-hundred day simple moving average of $18.82. ZTO Express has a fifty-two week low of $16.34 and a fifty-two week high of $27.50. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 12.16 and a beta of -0.15.

ZTO Express (Cayman) Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.29 per share. This represents a dividend yield of 330.0%. The ex-dividend date is Tuesday, September 30th. ZTO Express (Cayman)'s dividend payout ratio is presently 45.95%.

ZTO Express (Cayman) Company 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.