Bank of Montreal Can Sells 45,894,119 Shares of ZTO Express (Cayman) Inc. (NYSE:ZTO)

Bank of Montreal Can lowered its stake in shares of ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) by 99.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,519 shares of the transportation company's stock after selling 45,894,119 shares during the quarter. Bank of Montreal Can's holdings in ZTO Express (Cayman) were worth $2,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in ZTO Express (Cayman) during the third quarter valued at $8,723,000. Renaissance Technologies LLC boosted its stake in ZTO Express (Cayman) by 60.9% during the second quarter. Renaissance Technologies LLC now owns 167,300 shares of the transportation company's stock worth $3,471,000 after acquiring an additional 63,300 shares in the last quarter. Fisher Asset Management LLC grew its holdings in ZTO Express (Cayman) by 10.0% in the third quarter. Fisher Asset Management LLC now owns 3,484,318 shares of the transportation company's stock worth $86,307,000 after purchasing an additional 317,450 shares during the period. Public Sector Pension Investment Board increased its stake in shares of ZTO Express (Cayman) by 17.7% during the second quarter. Public Sector Pension Investment Board now owns 144,347 shares of the transportation company's stock valued at $2,995,000 after purchasing an additional 21,750 shares in the last quarter. Finally, Scientech Research LLC bought a new position in shares of ZTO Express (Cayman) during the second quarter valued at approximately $927,000. 41.65% of the stock is owned by institutional investors.

ZTO Express (Cayman) Stock Performance

Shares of NYSE:ZTO traded down $0.02 during trading on Thursday, reaching $18.64. 1,826,893 shares of the stock traded hands, compared to its average volume of 3,464,467. The stock has a market cap of $11.26 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 0.97 and a beta of -0.13. The stock has a 50-day moving average of $22.84 and a two-hundred day moving average of $21.87. ZTO Express has a 52-week low of $15.90 and a 52-week high of $27.50.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. started coverage on ZTO Express (Cayman) in a research note on Wednesday, October 30th. They issued an "overweight" rating and a $30.00 price target on the stock. StockNews.com downgraded ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $27.03.

ZTO Express (Cayman) Company 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.