ZTO Express (Cayman) Inc. $ZTO Stock Holdings Trimmed by Bank of America Corp DE

Key Points

• Bank of America reduced its ZTO Express position by 25.5% in the first quarter, selling 286,417 shares and retaining 835,707 shares valued at approximately $21 million. Institutional investors collectively own 41.65% of the company.
• Analyst sentiment remains generally positive, with ZTO holding a consensus “Moderate Buy” rating and an average price target of $27.03, despite some recent downgrades to “Hold.”
• ZTO reported quarterly earnings of $0.56 per share, beating estimates by $0.06, while revenue reached $2.14 billion. The stock opened at $23.11, compared with a 12-month range of $17.74 to $26.20.

Bank of America Corp DE lowered its position in shares of ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) by 25.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 835,707 shares of the transportation company's stock after selling 286,417 shares during the quarter. Bank of America Corp DE owned about 0.15% of ZTO Express (Cayman) worth $21,035,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ZTO. Caitong International Asset Management Co. Ltd bought a new position in ZTO Express (Cayman) in the fourth quarter worth about $25,000. Leonteq Securities AG acquired a new stake in ZTO Express (Cayman) in the fourth quarter worth about $30,000. Atlas Capital Advisors Inc. bought a new position in shares of ZTO Express (Cayman) in the fourth quarter valued at approximately $35,000. Smartleaf Asset Management LLC raised its holdings in ZTO Express (Cayman) by 61.4% during the second quarter. Smartleaf Asset Management LLC now owns 2,021 shares of the transportation company's stock worth $36,000 after purchasing an additional 769 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in ZTO Express (Cayman) by 1,713.0% during the fourth quarter. Assetmark Inc. now owns 2,375 shares of the transportation company's stock worth $50,000 after purchasing an additional 2,244 shares in the last quarter. Institutional investors own 41.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $30.10 price target on shares of ZTO Express (Cayman) in a research note on Wednesday, May 20th. Zacks Research cut shares of ZTO Express (Cayman) from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings downgraded shares of ZTO Express (Cayman) from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, ZTO Express (Cayman) presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.03.

ZTO Express (Cayman) Stock Performance

ZTO stock opened at $23.11 on Wednesday. The firm has a 50 day moving average of $23.25 and a two-hundred day moving average of $23.83. ZTO Express has a 12 month low of $17.74 and a 12 month high of $26.20. The company has a market capitalization of $12.88 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 0.87 and a beta of -0.22. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.16.

ZTO Express (Cayman) (NYSE:ZTO - Get Free Report) last released its quarterly earnings results on Tuesday, August 18th. The transportation company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.06. ZTO Express (Cayman) had a net margin of 17.87% and a return on equity of 14.23%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.15 billion. As a group, equities analysts anticipate that ZTO Express will post 1.95 EPS for the current fiscal year.

ZTO Express (Cayman) Profile

ZTO Express (Cayman) Inc is one of China's leading express delivery companies, specializing in both domestic and cross-border parcel logistics. The company operates a technology-enabled network that connects shippers, independent pickup and delivery stations, regional sorting hubs and end customers. ZTO's service portfolio includes standard express, heavy-weight parcel delivery, time-definite shipments and e-commerce logistics solutions tailored for online retailers and marketplaces.

Founded in 2002 and headquartered in Shanghai, ZTO has grown rapidly by leveraging a franchise-style operating model that engages a broad network of independent contractors.

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