Teacher Retirement System of Texas Reduces Holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Teacher Retirement System of Texas decreased its holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 42.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,484 shares of the company’s stock after selling 40,073 shares during the quarter. Teacher Retirement System of Texas’ holdings in ZIM Integrated Shipping Services were worth $795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ZIM. Altshuler Shaham Ltd raised its stake in ZIM Integrated Shipping Services by 650.0% during the 4th quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company’s stock worth $32,000 after acquiring an additional 1,300 shares during the period. Employees Retirement System of Texas bought a new stake in ZIM Integrated Shipping Services during the 4th quarter worth approximately $45,000. Brown Brothers Harriman & Co. bought a new stake in ZIM Integrated Shipping Services during the 4th quarter worth approximately $79,000. Mark Sheptoff Financial Planning LLC raised its stake in ZIM Integrated Shipping Services by 26.5% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,300 shares of the company’s stock worth $92,000 after acquiring an additional 900 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in ZIM Integrated Shipping Services during the 4th quarter worth approximately $186,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZIM. Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the company an “underweight” rating in a research report on Friday, June 27th. Bank of America reduced their price objective on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating on the stock in a research report on Friday, April 11th. Clarkson Capital cut shares of ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a research report on Tuesday, May 20th. Finally, Jefferies Financial Group lifted their price objective on shares of ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Tuesday, May 20th. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $14.82.

ZIM Integrated Shipping Services Stock Down 1.2%

Shares of ZIM opened at $15.75 on Tuesday. The firm has a market capitalization of $1.90 billion, a P/E ratio of 0.81, a P/E/G ratio of 0.27 and a beta of 1.76. ZIM Integrated Shipping Services Ltd. has a 12-month low of $11.04 and a 12-month high of $30.15. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.16. The firm has a fifty day moving average price of $16.73 and a 200-day moving average price of $17.20.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Monday, May 19th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.56. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.84 billion. ZIM Integrated Shipping Services had a return on equity of 63.46% and a net margin of 26.52%. During the same period in the previous year, the company posted $0.75 earnings per share. Equities research analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, June 3rd were issued a $0.74 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a dividend yield of 16.96%. ZIM Integrated Shipping Services’s payout ratio is currently 4.76%.

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.