Exchange Traded Concepts LLC acquired a new position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 937 shares of the company’s stock, valued at approximately $68,000.
Several other hedge funds have also added to or reduced their stakes in ZIM. Kestra Advisory Services LLC raised its position in ZIM Integrated Shipping Services by 26.6% in the fourth quarter. Kestra Advisory Services LLC now owns 24,423 shares of the company’s stock worth $1,438,000 after acquiring an additional 5,137 shares during the period. Russell Investments Group Ltd. increased its stake in shares of ZIM Integrated Shipping Services by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 130,242 shares of the company’s stock worth $7,608,000 after purchasing an additional 65,357 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth about $9,649,000. Van ECK Associates Corp purchased a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth about $975,000. Finally, Centric Wealth Management purchased a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth about $1,599,000. Institutional investors own 47.33% of the company’s stock.
ZIM Integrated Shipping Services Price Performance
Shares of NYSE:ZIM opened at $46.44 on Monday. The company has a 50 day moving average of $55.35 and a 200 day moving average of $62.43. The stock has a market cap of $5.57 billion, a P/E ratio of 0.97 and a beta of 2.86. ZIM Integrated Shipping Services Ltd. has a 12 month low of $33.71 and a 12 month high of $91.23. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.69.
ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) last issued its quarterly earnings data on Wednesday, May 18th. The company reported $14.19 EPS for the quarter, beating the consensus estimate of $12.65 by $1.54. ZIM Integrated Shipping Services had a net margin of 45.36% and a return on equity of 167.57%. The company had revenue of $3.72 billion during the quarter. During the same period in the prior year, the firm posted $5.13 EPS. As a group, sell-side analysts forecast that ZIM Integrated Shipping Services Ltd. will post 41.72 EPS for the current fiscal year.
ZIM Integrated Shipping Services Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 8th. Shareholders of record on Tuesday, May 31st were paid a $2.85 dividend. The ex-dividend date was Friday, May 27th. This represents a $11.40 dividend on an annualized basis and a yield of 24.55%. ZIM Integrated Shipping Services’s dividend payout ratio is presently 23.80%.
Analysts Set New Price Targets
ZIM has been the subject of several recent research reports. Bank of America downgraded shares of ZIM Integrated Shipping Services from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $79.00 to $40.00 in a research note on Friday, July 1st. JPMorgan Chase & Co. upgraded shares of ZIM Integrated Shipping Services from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $43.60 to $53.30 in a research note on Friday, June 17th. Finally, Clarkson Capital reiterated a “neutral” rating on shares of ZIM Integrated Shipping Services in a research note on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $72.66.
ZIM Integrated Shipping Services Company Profile
ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.
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