State Street Corp Trims Holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

State Street Corp lessened its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,242,102 shares of the company’s stock after selling 25,157 shares during the period. State Street Corp owned about 1.03% of ZIM Integrated Shipping Services worth $31,872,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in shares of ZIM Integrated Shipping Services by 9.6% in the 2nd quarter. Van ECK Associates Corp now owns 37,488 shares of the company’s stock worth $831,000 after purchasing an additional 3,296 shares during the last quarter. nVerses Capital LLC acquired a new position in ZIM Integrated Shipping Services in the second quarter worth about $142,000. Rhumbline Advisers increased its holdings in ZIM Integrated Shipping Services by 39.3% in the second quarter. Rhumbline Advisers now owns 11,732 shares of the company’s stock valued at $260,000 after buying an additional 3,311 shares during the last quarter. PFG Investments LLC raised its stake in ZIM Integrated Shipping Services by 35.5% during the second quarter. PFG Investments LLC now owns 26,806 shares of the company’s stock valued at $594,000 after buying an additional 7,017 shares in the last quarter. Finally, Chesapeake Capital Corp IL bought a new position in ZIM Integrated Shipping Services during the 2nd quarter worth approximately $380,000. 21.42% of the stock is owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Stock Down 0.5 %

ZIM Integrated Shipping Services stock opened at $18.29 on Friday. The firm has a market capitalization of $2.20 billion, a P/E ratio of 1.53, a P/E/G ratio of 0.04 and a beta of 1.78. The company has a 50-day simple moving average of $22.34 and a 200-day simple moving average of $20.60. ZIM Integrated Shipping Services Ltd. has a one year low of $9.08 and a one year high of $30.15. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a $2.81 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $11.24 annualized dividend and a dividend yield of 61.45%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 9.72%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ZIM. Jefferies Financial Group lowered their price target on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday, December 17th. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Bank of America raised 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 research report on Wednesday, August 28th. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Five research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ZIM Integrated Shipping Services currently has an average rating of “Hold” and a consensus price target of $15.14.

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.