ZIM Integrated Shipping Services (NYSE:ZIM) Cut to Strong Sell at Fearnley Fonds

Fearnley Fonds lowered shares of ZIM Integrated Shipping Services (NYSE:ZIM) from a hold rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Barclays boosted their price objective on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Bank of America boosted their price target on shares of 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. restated an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $25.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday. Five investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $15.22.

ZIM Integrated Shipping Services Price Performance

ZIM opened at $23.78 on Thursday. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 1.99, a PEG ratio of 0.04 and a beta of 1.88. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 1.11. The stock’s 50-day moving average price is $22.78 and its 200 day moving average price is $20.52. ZIM Integrated Shipping Services has a 12-month low of $6.39 and a 12-month high of $30.15.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be paid a dividend of $2.81 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a yield of 47.27%. ZIM Integrated Shipping Services’s dividend payout ratio is currently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently bought and sold shares of ZIM. Russell Investments Group Ltd. increased its position in ZIM Integrated Shipping Services by 1,431.1% during the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after purchasing an additional 5,667 shares during the period. Axxcess Wealth Management LLC purchased a new position in ZIM Integrated Shipping Services in the first quarter worth $546,000. California State Teachers Retirement System lifted its holdings in ZIM Integrated Shipping Services by 2.4% in the first quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock valued at $1,060,000 after acquiring an additional 2,423 shares during the period. Tidal Investments LLC boosted its position in shares of ZIM Integrated Shipping Services by 18.4% during the 1st quarter. Tidal Investments LLC now owns 55,779 shares of the company’s stock worth $564,000 after purchasing an additional 8,665 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of ZIM Integrated Shipping Services during the 1st quarter worth $257,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

About ZIM Integrated Shipping Services

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.