abrdn plc Sells 24,144 Shares of ZTO Express (Cayman) Inc. (NYSE:ZTO)

abrdn plc decreased its holdings in ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) by 21.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,821 shares of the transportation company's stock after selling 24,144 shares during the quarter. abrdn plc's holdings in ZTO Express (Cayman) were worth $2,225,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Platinum Investment Management Ltd. raised its position in shares of ZTO Express (Cayman) by 22.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 17,428,610 shares of the transportation company's stock worth $364,955,000 after purchasing an additional 3,140,733 shares during the period. Canada Pension Plan Investment Board lifted its stake in ZTO Express (Cayman) by 119.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,848,182 shares of the transportation company's stock valued at $59,641,000 after buying an additional 1,552,885 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of ZTO Express (Cayman) by 1,731.7% during the second quarter. Envestnet Asset Management Inc. now owns 490,261 shares of the transportation company's stock valued at $10,173,000 after acquiring an additional 463,496 shares during the period. National Bank of Canada FI grew its position in shares of ZTO Express (Cayman) by 81.7% during the first quarter. National Bank of Canada FI now owns 775,700 shares of the transportation company's stock worth $16,173,000 after acquiring an additional 348,700 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of ZTO Express (Cayman) by 119.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 509,092 shares of the transportation company's stock worth $10,564,000 after acquiring an additional 277,110 shares during the period. Institutional investors and hedge funds own 41.65% of the company's stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. assumed coverage on ZTO Express (Cayman) in a research note on Wednesday, October 30th. They set an "overweight" rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.03.

ZTO Express (Cayman) Price Performance

Shares of NYSE:ZTO traded up $0.61 during trading hours on Tuesday, hitting $23.07. 1,219,593 shares of the company's stock traded hands, compared to its average volume of 3,442,169. The company has a market cap of $13.94 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.10 and a beta of -0.09. ZTO Express has a 52 week low of $15.90 and a 52 week high of $27.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.26 and a current ratio of 1.26. The company's fifty day simple moving average is $23.59 and its two-hundred day simple moving average is $22.05.

ZTO Express (Cayman) (NYSE:ZTO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The transportation company reported $0.47 earnings per share for the quarter. ZTO Express (Cayman) had a net margin of 21.22% and a return on equity of 15.51%. The business had revenue of $1.48 billion for the quarter. As a group, equities analysts anticipate that ZTO Express will post 1.66 EPS for the current fiscal year.

ZTO Express (Cayman) Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.35 per share. This represents a yield of 4.6%. The ex-dividend date was Tuesday, September 10th. ZTO Express (Cayman)'s payout ratio is 47.55%.

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.