Envestnet Asset Management Inc. Increases Holdings in ZTO Express (Cayman) Inc. (NYSE:ZTO)

Envestnet Asset Management Inc. boosted its holdings in shares of ZTO Express (Cayman) Inc. (NYSE:ZTO) by 31.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 577,800 shares of the transportation company’s stock after purchasing an additional 137,202 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of ZTO Express (Cayman) worth $11,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ZTO Express (Cayman) by 6.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,212 shares of the transportation company’s stock valued at $242,000 after buying an additional 730 shares during the period. UMB Bank n.a. raised its holdings in ZTO Express (Cayman) by 106.4% during the first quarter. UMB Bank n.a. now owns 1,288 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 664 shares during the period. TB Alternative Assets Ltd. purchased a new position in shares of ZTO Express (Cayman) during the first quarter valued at about $1,640,000. LPL Financial LLC purchased a new position in shares of ZTO Express (Cayman) during the fourth quarter valued at about $232,000. Finally, Polymer Capital Management HK LTD purchased a new position in ZTO Express (Cayman) in the fourth quarter worth about $1,948,000. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ZTO. Bank of America lowered shares of ZTO Express (Cayman) from a “buy” rating to a “neutral” rating and cut their price target for the stock from $24.00 to $19.00 in a report on Thursday, May 22nd. Morgan Stanley set a $24.20 price objective on shares of ZTO Express (Cayman) in a research report on Wednesday, July 2nd. Citigroup reduced their price target on shares of ZTO Express (Cayman) from $26.40 to $22.60 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of ZTO Express (Cayman) from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Finally, Hsbc Global Res raised shares of ZTO Express (Cayman) from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.76.

ZTO Express (Cayman) Price Performance

Shares of NYSE:ZTO opened at $19.00 on Friday. ZTO Express has a 12 month low of $16.34 and a 12 month high of $27.50. The firm has a market capitalization of $11.37 billion, a P/E ratio of 12.03, a P/E/G ratio of 2.88 and a beta of -0.18. The company’s fifty day moving average price is $17.78 and its 200 day moving average price is $18.72.

ZTO Express (Cayman) Profile

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.