Bank of New York Mellon Corp Sells 2,122 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Bank of New York Mellon Corp reduced its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,906 shares of the company’s stock after selling 2,122 shares during the quarter. Bank of New York Mellon Corp’s holdings in ZIM Integrated Shipping Services were worth $857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Sunbelt Securities Inc. bought a new position in ZIM Integrated Shipping Services in the 3rd quarter worth $71,000. Mark Sheptoff Financial Planning LLC lifted its position in shares of ZIM Integrated Shipping Services by 126.7% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 3,400 shares of the company’s stock valued at $87,000 after acquiring an additional 1,900 shares in the last quarter. R Squared Ltd bought a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth about $88,000. HighTower Advisors LLC bought a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $263,000. Finally, Truist Financial Corp lifted its holdings in ZIM Integrated Shipping Services by 10.2% in the 4th quarter. Truist Financial Corp now owns 14,804 shares of the company’s stock worth $318,000 after purchasing an additional 1,376 shares in the last quarter. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ZIM shares. JPMorgan Chase & Co. reduced their price objective on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. Finally, Barclays cut their price objective on ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating for the company in a research report on Monday, March 17th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.54.

ZIM Integrated Shipping Services Stock Performance

ZIM opened at $15.19 on Wednesday. The firm’s 50-day moving average price is $18.75 and its 200-day moving average price is $20.59. The company has a market cap of $1.83 billion, a P/E ratio of 1.27, a price-to-earnings-growth ratio of 0.27 and a beta of 1.70. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. ZIM Integrated Shipping Services Ltd. has a 52-week low of $9.56 and a 52-week high of $30.15.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share for the quarter, beating the consensus estimate of $3.47 by $1.19. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.99 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. As a group, equities analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th will be issued a $3.17 dividend. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. This represents a $12.68 annualized dividend and a yield of 83.48%. The ex-dividend date of this dividend is Monday, March 24th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 6.51%.

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.