ZTO Express (Cayman) Inc. $ZTO Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its position in ZTO Express (Cayman) Inc. (NYSE:ZTO) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,956 shares of the transportation company’s stock after buying an additional 2,848 shares during the quarter. DAVENPORT & Co LLC’s holdings in ZTO Express (Cayman) were worth $833,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in ZTO Express (Cayman) by 6.4% during the first 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 in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of ZTO Express (Cayman) by 31.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 577,800 shares of the transportation company’s stock valued at $11,464,000 after acquiring an additional 137,202 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of ZTO Express (Cayman) during the 1st quarter valued at approximately $343,000. Cerity Partners LLC lifted its stake in ZTO Express (Cayman) by 30.6% during the first quarter. Cerity Partners LLC now owns 26,170 shares of the transportation company’s stock worth $519,000 after purchasing an additional 6,135 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings 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 purchasing an additional 664 shares during the period. Institutional investors own 41.65% of the company’s stock.

ZTO Express (Cayman) Trading Down 2.5%

NYSE ZTO opened at $18.60 on Friday. ZTO Express has a 52 week low of $16.34 and a 52 week high of $26.05. The stock has a market cap of $11.13 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 7.31 and a beta of -0.18. The company has a 50-day moving average price of $19.20 and a two-hundred day moving average price of $18.64.

ZTO Express (Cayman) Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.29 dividend. This represents a yield of 312.0%. The ex-dividend date of this dividend is Tuesday, September 30th. ZTO Express (Cayman)’s dividend payout ratio is 39.19%.

Analysts Set New Price Targets

Several research firms have recently commented on ZTO. Zacks Research raised shares of ZTO Express (Cayman) from a “strong sell” rating to a “hold” rating in a report on Thursday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of ZTO Express (Cayman) in a research note on Wednesday. Bank of America upped their target price on ZTO Express (Cayman) from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Finally, Morgan Stanley set a $24.20 price target on ZTO Express (Cayman) in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.36.

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.