Pzena Investment Management LLC Sells 119,523 Shares of ZTO Express (Cayman) Inc. $ZTO

Pzena Investment Management LLC trimmed its position in ZTO Express (Cayman) Inc. (NYSE:ZTO) by 1.6% in the 1st quarter, HoldingsChannel reports. The fund owned 7,460,931 shares of the transportation company’s stock after selling 119,523 shares during the quarter. Pzena Investment Management LLC’s holdings in ZTO Express (Cayman) were worth $187,792,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SmartHarvest Portfolios LLC purchased a new position in ZTO Express (Cayman) during the first quarter valued at approximately $262,000. Corient Private Wealth LLC purchased a new stake in shares of ZTO Express (Cayman) in the fourth quarter worth $221,000. Hsbc Holdings PLC raised its position in shares of ZTO Express (Cayman) by 93.9% during the 4th quarter. Hsbc Holdings PLC now owns 249,469 shares of the transportation company’s stock valued at $5,211,000 after purchasing an additional 120,835 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of ZTO Express (Cayman) during the 4th quarter valued at $42,000. Finally, Invesco Ltd. lifted its stake in shares of ZTO Express (Cayman) by 32.4% during the 4th quarter. Invesco Ltd. now owns 197,679 shares of the transportation company’s stock valued at $4,130,000 after buying an additional 48,363 shares in the last quarter. Institutional investors own 41.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ZTO shares. Zacks Research downgraded shares of ZTO Express (Cayman) from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th. Weiss Ratings downgraded ZTO Express (Cayman) from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. upped their price objective on ZTO Express (Cayman) from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, April 13th. Morgan Stanley reiterated an “overweight” rating and set a $30.10 target price on shares of ZTO Express (Cayman) in a research report on Wednesday, May 20th. Finally, Wall Street Zen raised ZTO Express (Cayman) from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.03.

ZTO Express (Cayman) Price Performance

Shares of NYSE:ZTO opened at $22.80 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a fifty day moving average price of $23.40 and a 200 day moving average price of $23.34. ZTO Express has a fifty-two week low of $17.39 and a fifty-two week high of $26.20. The firm has a market cap of $12.85 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 0.85 and a beta of -0.22.

ZTO Express (Cayman) Company 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.