340,960 Shares in ZTO Express (Cayman) Inc. $ZTO Purchased by Woodline Partners LP

Key Points

• Woodline Partners LP has acquired a new stake in ZTO Express, purchasing 340,960 shares valued at approximately $6.8 million, representing about 0.06% of the company.
• Several institutional investors, including Todd Asset Management LLC and Canada Pension Plan Investment Board, have significantly increased their positions in ZTO Express during the first quarter.
• Research firms have mixed ratings on ZTO Express, with Bank of America raising its price objective from $19.00 to $22.00, while maintaining a "neutral" rating.

Woodline Partners LP bought a new position in shares of ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 340,960 shares of the transportation company's stock, valued at approximately $6,765,000. Woodline Partners LP owned about 0.06% of ZTO Express (Cayman) as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ZTO. Quantinno Capital Management LP raised its stake in ZTO Express (Cayman) by 20.5% during the fourth quarter. Quantinno Capital Management LP now owns 18,444 shares of the transportation company's stock worth $361,000 after buying an additional 3,133 shares during the last quarter. Voloridge Investment Management LLC bought a new position in ZTO Express (Cayman) during the fourth quarter worth $10,802,000. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in ZTO Express (Cayman) during the fourth quarter worth $246,000. Public Employees Retirement System of Ohio raised its stake in ZTO Express (Cayman) by 10.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 209,907 shares of the transportation company's stock worth $4,104,000 after buying an additional 19,329 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC raised its stake in ZTO Express (Cayman) by 544.3% during the first quarter. Legacy Wealth Asset Management LLC now owns 135,019 shares of the transportation company's stock worth $2,679,000 after buying an additional 114,064 shares during the last quarter. Institutional investors own 41.65% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on ZTO. Citigroup reduced their price target on shares of ZTO Express (Cayman) from $26.40 to $22.60 and set a "buy" rating for the company in a report on Thursday, May 22nd. Morgan Stanley set a $24.20 price target on shares of ZTO Express (Cayman) in a report on Wednesday, July 2nd. Wall Street Zen cut shares of ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Bank of America raised their price target on shares of ZTO Express (Cayman) from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. upgraded shares of ZTO Express (Cayman) from a "neutral" rating to an "overweight" rating and reduced their price target 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 issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $22.36.

ZTO Express (Cayman) Price Performance

Shares of NYSE:ZTO traded down $0.45 during midday trading on Thursday, hitting $18.65. 610,753 shares of the company's stock were exchanged, compared to its average volume of 2,449,040. The stock has a 50 day moving average price of $19.30 and a 200-day moving average price of $18.79. The company has a market cap of $11.16 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 7.90 and a beta of -0.15. ZTO Express has a 12 month low of $16.34 and a 12 month high of $27.50.

ZTO Express (Cayman) Cuts Dividend

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

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.