Mirae Asset Global Investments Co. Ltd. Grows Holdings in ZTO Express (Cayman) Inc. (NYSE:ZTO)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of ZTO Express (Cayman) Inc. (NYSE:ZTO) by 6.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,212 shares of the transportation company’s stock after purchasing an additional 730 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ZTO Express (Cayman) were worth $242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in ZTO Express (Cayman) by 1.9% during the first quarter. Fifth Third Bancorp now owns 73,902 shares of the transportation company’s stock worth $1,466,000 after purchasing an additional 1,384 shares during the last quarter. SG Americas Securities LLC raised its position in ZTO Express (Cayman) by 8.4% in the first quarter. SG Americas Securities LLC now owns 320,625 shares of the transportation company’s stock worth $6,361,000 after acquiring an additional 24,900 shares during the period. UMB Bank n.a. raised its position in ZTO Express (Cayman) by 106.4% in the first quarter. UMB Bank n.a. now owns 1,288 shares of the transportation company’s stock worth $26,000 after acquiring an additional 664 shares during the period. TB Alternative Assets Ltd. bought a new stake in ZTO Express (Cayman) in the first quarter worth about $1,640,000. Finally, Legacy Wealth Asset Management LLC raised its position in ZTO Express (Cayman) by 544.3% in the first quarter. Legacy Wealth Asset Management LLC now owns 135,019 shares of the transportation company’s stock worth $2,679,000 after acquiring an additional 114,064 shares during the period. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

ZTO Express (Cayman) Stock Up 0.1%

NYSE ZTO opened at $18.05 on Monday. The company’s 50 day moving average is $17.88 and its 200-day moving average is $18.80. ZTO Express has a 12-month low of $16.34 and a 12-month high of $27.50. The firm has a market cap of $10.80 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 2.73 and a beta of -0.18.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen lowered shares of ZTO Express (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Bank of America lowered shares of ZTO Express (Cayman) from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $24.00 to $19.00 in a research report on Thursday, May 22nd. JPMorgan Chase & Co. raised shares of ZTO Express (Cayman) from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $23.00 to $21.00 in a research report on Thursday, May 29th. Morgan Stanley set a $24.20 price objective on shares of ZTO Express (Cayman) in a research report on Wednesday. Finally, Citigroup lowered their price objective on shares of ZTO Express (Cayman) from $26.40 to $22.60 and set a “buy” rating on the stock in a research report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ZTO Express (Cayman) currently has an average rating of “Moderate Buy” and an average target price of $21.76.

About ZTO Express (Cayman)

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.