ZIM Integrated Shipping Services Ltd. $ZIM Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC cut its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 90.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,084 shares of the company’s stock after selling 979,111 shares during the period. Merit Financial Group LLC’s holdings in ZIM Integrated Shipping Services were worth $1,424,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new stake in ZIM Integrated Shipping Services in the second quarter worth approximately $26,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter worth $37,000. Allworth Financial LP raised its stake in shares of ZIM Integrated Shipping Services by 230.6% in the 2nd quarter. Allworth Financial LP now owns 3,637 shares of the company’s stock worth $59,000 after buying an additional 2,537 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 206.7% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 4,600 shares of the company’s stock valued at $74,000 after buying an additional 3,100 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in ZIM Integrated Shipping Services by 2,256.7% during the second quarter. Caitong International Asset Management Co. Ltd now owns 5,114 shares of the company’s stock valued at $82,000 after buying an additional 4,897 shares in the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ZIM. Jefferies Financial Group boosted their price target on shares of ZIM Integrated Shipping Services from $15.00 to $20.00 and gave the stock a “hold” rating in a research report on Monday, December 8th. JPMorgan Chase & Co. dropped their target price on shares of ZIM Integrated Shipping Services from $9.70 to $8.70 and set an “underweight” rating on the stock in a report on Monday, December 1st. Barclays increased their target price on shares of ZIM Integrated Shipping Services from $13.30 to $13.70 and gave the company an “underweight” rating in a research note on Friday, December 19th. UBS Group set a $9.70 price target on shares of ZIM Integrated Shipping Services in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, ZIM Integrated Shipping Services has an average rating of “Reduce” and a consensus price target of $14.15.

ZIM Integrated Shipping Services Price Performance

ZIM stock opened at $21.89 on Monday. ZIM Integrated Shipping Services Ltd. has a one year low of $11.03 and a one year high of $23.25. The firm has a 50-day moving average of $18.30 and a two-hundred day moving average of $16.12. The firm has a market capitalization of $2.64 billion, a PE ratio of 2.63 and a beta of 1.70. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 1.12.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Thursday, November 20th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.65). The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. ZIM Integrated Shipping Services had a net margin of 13.22% and a return on equity of 25.18%. On average, analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, December 1st were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 5.7%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, December 1st. ZIM Integrated Shipping Services’s payout ratio is 2.88%.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.