Bank of America Corp DE Boosts Stake in ZTO Express (Cayman) Inc (ZTO)

Bank of America Corp DE lifted its stake in shares of ZTO Express (Cayman) Inc (NYSE:ZTO) by 56.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 623,256 shares of the transportation company’s stock after buying an additional 225,597 shares during the period. Bank of America Corp DE owned approximately 0.12% of ZTO Express (Cayman) worth $12,465,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Elite Wealth Management Inc. acquired a new stake in shares of ZTO Express (Cayman) during the second quarter worth $236,000. Wells Fargo & Company MN lifted its stake in shares of ZTO Express (Cayman) by 99.9% during the first quarter. Wells Fargo & Company MN now owns 23,516 shares of the transportation company’s stock worth $353,000 after buying an additional 11,752 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of ZTO Express (Cayman) during the first quarter worth $1,881,000. Commonwealth Equity Services LLC acquired a new stake in shares of ZTO Express (Cayman) during the second quarter worth $205,000. Finally, Maso Capital Partners Ltd acquired a new stake in shares of ZTO Express (Cayman) during the second quarter worth $1,500,000. Institutional investors and hedge funds own 30.27% of the company’s stock.

Shares of ZTO Express (Cayman) stock opened at $16.24 on Friday. ZTO Express has a 1 year low of $14.51 and a 1 year high of $22.67. The firm has a market cap of $8.40 billion, a P/E ratio of 23.54 and a beta of 0.29.

ZTO Express (Cayman) (NYSE:ZTO) last issued its earnings results on Wednesday, August 8th. The transportation company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). ZTO Express (Cayman) had a return on equity of 15.45% and a net margin of 26.08%. The business had revenue of $634.41 million for the quarter. As a group, analysts forecast that ZTO Express will post 0.76 EPS for the current year.

ZTO has been the subject of several research reports. ValuEngine downgraded shares of ZTO Express (Cayman) from a “buy” rating to a “hold” rating in a research note on Thursday, September 6th. Zacks Investment Research upgraded shares of ZTO Express (Cayman) from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Saturday, June 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of ZTO Express (Cayman) from $23.50 to $23.00 and set an “overweight” rating for the company in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.17.

About ZTO Express (Cayman)

ZTO Express (Cayman) Inc provides express delivery and other value-added logistics services in the People's Republic of China. The company offers delivery services for e-commerce and traditional merchants, and other express service users. As of December 31, 2017, it operated a fleet of approximately 3,600 self-owned trucks.

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Institutional Ownership by Quarter for ZTO Express (Cayman) (NYSE:ZTO)

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