ZTO Express (Cayman) Inc. $ZTO Stock: Pzena Investment Management LLC Decreases Position

Key Points

• Pzena Investment Management cut its ZTO stake by 23.9% in the third quarter, selling 1.75 million shares and retaining about 5.57 million shares, worth roughly $108.2 million.
• ZTO reported quarterly EPS of $0.56, beating the $0.50 consensus, while revenue of $2.14 billion came in slightly below estimates; revenue rose 23% year over year.
• Several analysts downgraded the stock to “hold” or “neutral,” with Goldman Sachs and JPMorgan lowering price targets to $22. The consensus rating remained “Moderate Buy,” with a $24.70 target.

Pzena Investment Management LLC lessened its position in shares of ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) by 23.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,571,479 shares of the transportation company's stock after selling 1,750,852 shares during the period. Pzena Investment Management LLC owned about 1.00% of ZTO Express (Cayman) worth $108,198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Todd Asset Management LLC raised its holdings in shares of ZTO Express (Cayman) by 10.4% in the 2nd quarter. Todd Asset Management LLC now owns 1,891,052 shares of the transportation company's stock valued at $42,322,000 after purchasing an additional 178,235 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of ZTO Express (Cayman) by 1,506.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 920,352 shares of the transportation company's stock worth $23,165,000 after purchasing an additional 863,078 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of ZTO Express (Cayman) by 400.2% during the first quarter. Renaissance Technologies LLC now owns 618,800 shares of the transportation company's stock worth $15,575,000 after purchasing an additional 495,100 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of ZTO Express (Cayman) during the first quarter worth $653,000. Finally, Sei Investments Co. increased its holdings in ZTO Express (Cayman) by 575.6% in the first quarter. Sei Investments Co. now owns 211,401 shares of the transportation company's stock valued at $5,321,000 after buying an additional 180,110 shares during the last quarter. Institutional investors and hedge funds own 41.65% of the company's stock.

ZTO Express (Cayman) Stock Up 1.8%

Shares of NYSE:ZTO opened at $20.61 on Thursday. The company has a market capitalization of $11.49 billion, a PE ratio of 11.08, a P/E/G ratio of 0.98 and a beta of -0.18. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.16. ZTO Express has a twelve month low of $18.31 and a twelve month high of $26.20. The firm has a 50 day simple moving average of $20.26 and a 200-day simple moving average of $22.81.

ZTO Express (Cayman) (NYSE:ZTO - Get Free Report) last posted its earnings results on Saturday, August 15th. The transportation company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.06. ZTO Express (Cayman) had a net margin of 19.03% and a return on equity of 15.90%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.15 billion. The firm's revenue for the quarter was up 23.0% compared to the same quarter last year. On average, equities analysts predict that ZTO Express will post 1.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ZTO shares. Zacks Research cut ZTO Express (Cayman) from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a report on Saturday, October 17th. The Goldman Sachs Group cut ZTO Express (Cayman) from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $25.00 to $22.00 in a research report on Wednesday, October 14th. Weiss Ratings downgraded ZTO Express (Cayman) from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, August 31st. Finally, JPMorgan Chase & Co. lowered ZTO Express (Cayman) from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $29.00 to $22.00 in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.70.

ZTO Express (Cayman) Company Profile

ZTO Express (Cayman) Inc is a holding company that operates ZTO Express, one of China's major express delivery and logistics providers. The company provides parcel collection, sorting, line-haul transportation and last-mile delivery services, supporting shipments for consumers, merchants and businesses across China.

ZTO's business is closely connected to China's e-commerce economy, handling deliveries for online retailers and individual customers. Its operations include a nationwide network of sorting centers, transportation routes, service outlets and delivery personnel.

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