Altshuler Shaham Ltd Lowers Stock Holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Altshuler Shaham Ltd reduced its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 36.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,200 shares of the company’s stock after selling 1,261 shares during the period. Altshuler Shaham Ltd’s holdings in ZIM Integrated Shipping Services were worth $49,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ZIM. Private Advisor Group LLC bought a new position in ZIM Integrated Shipping Services in the fourth quarter worth approximately $127,000. Charles Schwab Investment Management Inc. increased its stake in shares of ZIM Integrated Shipping Services by 82.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock valued at $5,054,000 after buying an additional 231,955 shares during the period. Jump Financial LLC bought a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at about $130,000. Allianz Asset Management GmbH lifted its stake in ZIM Integrated Shipping Services by 1,446.0% in the fourth quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock worth $1,595,000 after acquiring an additional 151,102 shares during the period. Finally, Olympiad Research LP grew its holdings in ZIM Integrated Shipping Services by 2.8% during the 4th quarter. Olympiad Research LP now owns 49,236 shares of the company’s stock worth $486,000 after acquiring an additional 1,364 shares in the last quarter. 21.42% of the stock is owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Stock Down 1.7 %

Shares of ZIM stock opened at $20.06 on Monday. The stock’s fifty day moving average price is $18.72 and its 200 day moving average price is $16.68. ZIM Integrated Shipping Services Ltd. has a 1-year low of $6.39 and a 1-year high of $23.82. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -0.95, a price-to-earnings-growth ratio of 0.04 and a beta of 1.83. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same quarter in the previous year, the firm earned ($1.37) earnings per share. On average, research analysts expect that ZIM Integrated Shipping Services Ltd. will post 10.87 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.93 per share. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $3.72 dividend on an annualized basis and a yield of 18.54%. ZIM Integrated Shipping Services’s dividend payout ratio is presently -4.35%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZIM. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 price target on shares of ZIM Integrated Shipping Services in a research report on Monday, August 19th. Bank of America upped their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Barclays upped their price objective on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Finally, Citigroup lowered shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and increased their price target for the company from $11.60 to $13.00 in a research report on Thursday, June 6th. Four equities research analysts have rated the stock with a sell rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $14.84.

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.