Fifth Third Bancorp reduced its stake in ZTO Express (Cayman) Inc. (NYSE:ZTO – Free Report) by 15.7% during the fourth quarter, HoldingsChannel reports. The firm owned 72,518 shares of the transportation company’s stock after selling 13,496 shares during the quarter. Fifth Third Bancorp’s holdings in ZTO Express (Cayman) were worth $1,418,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in ZTO. Point72 DIFC Ltd bought a new position in ZTO Express (Cayman) in the 3rd quarter valued at approximately $26,000. Van ECK Associates Corp lifted its stake in shares of ZTO Express (Cayman) by 60.8% in the 3rd quarter. Van ECK Associates Corp now owns 1,825 shares of the transportation company’s stock valued at $46,000 after acquiring an additional 690 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of ZTO Express (Cayman) during the 3rd quarter valued at $46,000. Blue Trust Inc. grew its position in ZTO Express (Cayman) by 210.0% during the 3rd quarter. Blue Trust Inc. now owns 2,303 shares of the transportation company’s stock worth $57,000 after acquiring an additional 1,560 shares during the last quarter. Finally, Confluence Investment Management LLC grew its position in ZTO Express (Cayman) by 14.8% during the 4th quarter. Confluence Investment Management LLC now owns 10,282 shares of the transportation company’s stock worth $201,000 after acquiring an additional 1,326 shares during the last quarter. 41.65% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Hsbc Global Res lowered ZTO Express (Cayman) from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. StockNews.com upgraded shares of ZTO Express (Cayman) from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. assumed coverage on shares of ZTO Express (Cayman) in a report on Wednesday, October 30th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, HSBC downgraded shares of ZTO Express (Cayman) from a “buy” rating to a “hold” rating and dropped their price target for the company from $28.00 to $20.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, ZTO Express (Cayman) has an average rating of “Moderate Buy” and an average price target of $24.53.
ZTO Express (Cayman) Price Performance
Shares of ZTO stock opened at $19.03 on Wednesday. ZTO Express has a one year low of $15.90 and a one year high of $27.50. The business’s 50 day simple moving average is $19.17 and its 200 day simple moving average is $21.02. The stock has a market capitalization of $11.50 billion, a PE ratio of 13.12, a PEG ratio of 0.94 and a beta of -0.15.
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.
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