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

JPMorgan Chase & Co. reduced its stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 77.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 169,631 shares of the company’s stock after selling 591,713 shares during the period. JPMorgan Chase & Co. owned about 0.14% of ZIM Integrated Shipping Services worth $2,298,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZIM. Quarry LP bought a new stake in ZIM Integrated Shipping Services during the 3rd quarter worth approximately $34,000. Triumph Capital Management bought a new stake in ZIM Integrated Shipping Services during the 3rd quarter worth approximately $44,000. Larson Financial Group LLC increased its holdings in ZIM Integrated Shipping Services by 158.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock worth $44,000 after purchasing an additional 1,998 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in ZIM Integrated Shipping Services during the 3rd quarter worth approximately $49,000. Finally, New York State Common Retirement Fund increased its holdings in ZIM Integrated Shipping Services by 124.0% during the 3rd quarter. New York State Common Retirement Fund now owns 4,616 shares of the company’s stock worth $63,000 after purchasing an additional 2,555 shares in the last quarter. 21.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ZIM. Jefferies Financial Group boosted their price objective on ZIM Integrated Shipping Services from $15.00 to $20.00 and gave the stock a “hold” rating in a report on Monday, December 8th. Weiss Ratings lowered ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a report on Tuesday, March 10th. Barclays boosted their price objective on ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the stock 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. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $21.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $17.48.

ZIM Integrated Shipping Services Stock Performance

ZIM stock opened at $26.30 on Tuesday. The firm has a market cap of $3.17 billion, a PE ratio of 6.61 and a beta of 1.55. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 1.14. The business has a 50 day moving average of $25.82 and a 200-day moving average of $20.54. ZIM Integrated Shipping Services Ltd. has a 12-month low of $11.03 and a 12-month high of $29.97.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Saturday, February 14th. The company reported $0.32 earnings per share (EPS) for the quarter. The company had revenue of $1.48 billion during the quarter. ZIM Integrated Shipping Services had a return on equity of 9.33% and a net margin of 6.94%. As a group, sell-side analysts expect 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 Thursday, March 26th. Stockholders of record on Friday, March 20th were issued a $0.88 dividend. This is a boost 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 of this dividend was Friday, March 20th. ZIM Integrated Shipping Services’s dividend payout ratio 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.