Platinum Investment Management Ltd. trimmed its stake in ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) by 75.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,529,610 shares of the transportation company's stock after selling 7,702,462 shares during the quarter. ZTO Express (Cayman) makes up 3.0% of Platinum Investment Management Ltd.'s portfolio, making the stock its 17th biggest holding. Platinum Investment Management Ltd. owned approximately 0.42% of ZTO Express (Cayman) worth $44,901,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in ZTO. Todd Asset Management LLC raised its holdings in ZTO Express (Cayman) by 0.7% in the 1st quarter. Todd Asset Management LLC now owns 1,354,716 shares of the transportation company's stock valued at $26,878,000 after acquiring an additional 9,133 shares during the last quarter. XY Capital Ltd raised its holdings in ZTO Express (Cayman) by 162.4% in the 1st 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 during the last quarter. Canada Pension Plan Investment Board acquired a new position in ZTO Express (Cayman) in the 1st quarter valued at $13,950,000. Hhlr Advisors LTD. increased its stake in ZTO Express (Cayman) by 54.0% in the first quarter. Hhlr Advisors LTD. now owns 671,387 shares of the transportation company's stock valued at $13,320,000 after purchasing an additional 235,460 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in ZTO Express (Cayman) by 31.1% in the first quarter. Envestnet Asset Management Inc. now owns 577,800 shares of the transportation company's stock valued at $11,464,000 after purchasing an additional 137,202 shares during the last quarter. 41.65% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ZTO has been the subject of a number of research analyst reports. Morgan Stanley set a $24.20 price objective on shares of ZTO Express (Cayman) in a research note on Wednesday, July 2nd. Zacks Research raised shares of ZTO Express (Cayman) from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 25th. Finally, Bank of America upped their price objective on ZTO Express (Cayman) from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.36.
Read Our Latest Analysis on ZTO
ZTO Express (Cayman) Price Performance
Shares of ZTO Express (Cayman) stock opened at $19.12 on Thursday. ZTO Express has a 1-year low of $16.34 and a 1-year high of $27.50. The business has a 50-day moving average of $19.34 and a 200-day moving average of $18.72. The company has a market capitalization of $11.44 billion, a PE ratio of 12.92, a P/E/G ratio of 7.57 and a beta of -0.18.
ZTO Express (Cayman) Cuts Dividend
The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a dividend yield of 312.0%. ZTO Express (Cayman)'s dividend payout ratio (DPR) is presently 39.19%.
ZTO Express (Cayman) Company Profile
(
Free Report)
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.
Further Reading
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