National Bank of Canada FI lowered its holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating) by 93.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,530 shares of the company’s stock after selling 153,549 shares during the quarter. National Bank of Canada FI’s holdings in ZIM Integrated Shipping Services were worth $765,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZIM. Marshall Wace LLP grew its holdings in ZIM Integrated Shipping Services by 204.8% in the 4th quarter. Marshall Wace LLP now owns 2,708,036 shares of the company’s stock valued at $159,397,000 after buying an additional 1,819,550 shares during the last quarter. Credit Suisse AG grew its holdings in shares of ZIM Integrated Shipping Services by 5,999.9% during the 4th quarter. Credit Suisse AG now owns 964,764 shares of the company’s stock worth $56,786,000 after purchasing an additional 948,948 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of ZIM Integrated Shipping Services by 4,793.1% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 595,494 shares of the company’s stock worth $35,051,000 after purchasing an additional 583,324 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of ZIM Integrated Shipping Services by 61.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,399,431 shares of the company’s stock worth $82,370,000 after purchasing an additional 533,816 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of ZIM Integrated Shipping Services by 4.6% during the 4th quarter. Acadian Asset Management LLC now owns 4,762,800 shares of the company’s stock worth $280,267,000 after purchasing an additional 208,276 shares in the last quarter. Institutional investors and hedge funds own 47.33% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on ZIM. JPMorgan Chase & Co. raised ZIM Integrated Shipping Services from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $43.60 to $53.30 in a report on Friday, June 17th. Clarkson Capital reissued a “neutral” rating on shares of ZIM Integrated Shipping Services in a report on Tuesday, June 14th. Bank of America downgraded ZIM Integrated Shipping Services from a “buy” rating to an “underperform” rating and cut their target price for the stock from $79.00 to $40.00 in a research report on Friday, July 1st. Finally, Jefferies Financial Group assumed coverage on ZIM Integrated Shipping Services in a research report on Wednesday, July 20th. They set a “hold” rating and a $55.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, ZIM Integrated Shipping Services currently has an average rating of “Hold” and an average price target of $59.66.
ZIM Integrated Shipping Services Trading Up 4.4 %
Shares of ZIM opened at $52.15 on Tuesday. The stock has a fifty day moving average price of $50.55 and a two-hundred day moving average price of $61.23. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.26 and a current ratio of 1.29. ZIM Integrated Shipping Services Ltd. has a 52-week low of $40.67 and a 52-week high of $91.23. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 1.09 and a beta of 2.24.
ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) last issued its quarterly earnings data on Wednesday, May 18th. The company reported $14.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.65 by $1.54. ZIM Integrated Shipping Services had a return on equity of 167.57% and a net margin of 45.36%. The firm had revenue of $3.72 billion during the quarter. During the same quarter in the previous year, the firm posted $5.13 EPS. Analysts predict that ZIM Integrated Shipping Services Ltd. will post 41.47 EPS for the current fiscal year.
ZIM Integrated Shipping Services Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 8th. Stockholders of record on Tuesday, May 31st were given a dividend of $2.85 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $11.40 dividend on an annualized basis and a dividend yield of 21.86%. ZIM Integrated Shipping Services’s payout ratio is currently 23.80%.
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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