Y.D. More Investments Ltd Acquires Shares of 35,650 ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Y.D. More Investments Ltd bought a new position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,650 shares of the company’s stock, valued at approximately $790,000.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on ZIM. Citigroup lowered shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $11.60 to $13.00 in a research report on Thursday, June 6th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research report on Tuesday. Bank of America increased their target price on 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. Jefferies Financial Group restated a “buy” rating and issued a $22.00 price target on shares of ZIM Integrated Shipping Services in a report on Monday, August 19th. Finally, Barclays raised their target price on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a sell rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $14.84.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE ZIM opened at $18.42 on Thursday. 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 Ltd. has a 1-year low of $6.39 and a 1-year high of $23.82. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -0.87, a PEG ratio of 0.03 and a beta of 1.83. The business has a 50-day moving average of $18.78 and a 200-day moving average of $16.31.

ZIM Integrated Shipping Services (NYSE:ZIM) last released 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. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the business earned ($1.37) EPS. On average, equities analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 11.79 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 29th were paid a dividend of $0.93 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 29th. This represents a $3.72 annualized dividend and a yield of 20.20%. ZIM Integrated Shipping Services’s payout ratio is -4.35%.

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.