JPMorgan Chase & Co. Sells 591,713 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

JPMorgan Chase & Co. trimmed its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 77.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169,631 shares of the company’s stock after selling 591,713 shares during the period. JPMorgan Chase & Co.’s holdings in ZIM Integrated Shipping Services were worth $2,298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC grew its holdings in ZIM Integrated Shipping Services by 4.7% during the third quarter. Lazard Asset Management LLC now owns 14,308 shares of the company’s stock valued at $194,000 after purchasing an additional 638 shares during the period. HUB Investment Partners LLC grew its holdings in ZIM Integrated Shipping Services by 6.4% during the second quarter. HUB Investment Partners LLC now owns 11,920 shares of the company’s stock valued at $192,000 after purchasing an additional 722 shares during the period. Public Employees Retirement System of Ohio grew its holdings in ZIM Integrated Shipping Services by 1.2% during the third quarter. Public Employees Retirement System of Ohio now owns 95,400 shares of the company’s stock valued at $1,293,000 after purchasing an additional 1,100 shares during the period. IHT Wealth Management LLC grew its holdings in ZIM Integrated Shipping Services by 4.7% during the second quarter. IHT Wealth Management LLC now owns 26,385 shares of the company’s stock valued at $425,000 after purchasing an additional 1,194 shares during the period. Finally, Rhumbline Advisers grew its holdings in ZIM Integrated Shipping Services by 16.5% during the third quarter. Rhumbline Advisers now owns 10,519 shares of the company’s stock valued at $143,000 after purchasing an additional 1,492 shares during the period. 21.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ZIM shares. Jefferies Financial Group increased their price objective on ZIM Integrated Shipping Services from $15.00 to $20.00 and gave the company a “hold” rating in a report on Monday, December 8th. Barclays increased their price objective on ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the company an “underweight” rating in a report on Monday, March 16th. Fearnley Fonds raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Weiss Ratings downgraded ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a research report on Tuesday, March 10th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $21.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $17.48.

ZIM Integrated Shipping Services Trading Down 0.0%

NYSE:ZIM opened at $26.30 on Tuesday. The company has a market cap of $3.17 billion, a P/E ratio of 6.61 and a beta of 1.55. The stock’s fifty day moving average price is $25.82 and its two-hundred day moving average price is $20.54. ZIM Integrated Shipping Services Ltd. has a 1 year low of $11.03 and a 1 year high of $29.97. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.23 and a quick ratio of 1.15.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Saturday, February 14th. The company reported $0.32 earnings per share (EPS) for the quarter. The firm had revenue of $1.48 billion for the quarter. ZIM Integrated Shipping Services had a return on equity of 9.33% and a net margin of 6.94%. As a group, analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Friday, March 20th were given a dividend of $0.88 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. This represents a $3.52 annualized dividend and a dividend yield of 13.4%. The ex-dividend date was Friday, March 20th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 1.51%.

ZIM Integrated Shipping Services Profile

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.