Walleye Capital LLC lessened its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating) by 52.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,825 shares of the company’s stock after selling 15,003 shares during the quarter. Walleye Capital LLC’s holdings in ZIM Integrated Shipping Services were worth $1,005,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pictet Asset Management SA purchased a new stake in ZIM Integrated Shipping Services in the 4th quarter worth $267,000. JPMorgan Chase & Co. increased its holdings in shares of ZIM Integrated Shipping Services by 61.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,399,431 shares of the company’s stock worth $82,370,000 after purchasing an additional 533,816 shares during the last quarter. Equitable Holdings Inc. boosted its stake in ZIM Integrated Shipping Services by 25.2% during the fourth quarter. Equitable Holdings Inc. now owns 6,781 shares of the company’s stock valued at $399,000 after buying an additional 1,365 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in ZIM Integrated Shipping Services during the 4th quarter valued at approximately $177,000. Finally, Rokos Capital Management LLP bought a new stake in ZIM Integrated Shipping Services in the 4th quarter worth approximately $10,012,000. Institutional investors own 42.82% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on ZIM. Bank of America lowered shares of ZIM Integrated Shipping Services from a “buy” rating to an “underperform” rating and cut their target price for the company from $79.00 to $40.00 in a report on Friday, July 1st. Citigroup downgraded shares of ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating in a report on Monday, August 22nd. Barclays lowered their price target on shares of ZIM Integrated Shipping Services from $76.00 to $63.00 and set an “equal weight” rating for the company in a report on Friday, August 19th. JPMorgan Chase & Co. raised ZIM Integrated Shipping Services from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $43.60 to $53.30 in a research note on Friday, June 17th. Finally, Clarkson Capital reiterated a “neutral” rating on shares of ZIM Integrated Shipping Services in a report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and a consensus target price of $52.83.
ZIM Integrated Shipping Services Price Performance
ZIM Integrated Shipping Services Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Monday, August 29th were issued a $4.75 dividend. The ex-dividend date of this dividend was Friday, August 26th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.85. This represents a $19.00 dividend on an annualized basis and a dividend yield of 66.11%. ZIM Integrated Shipping Services’s dividend payout ratio is presently 36.83%.
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.
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