Bank of New York Mellon Corp Trims Holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Bank of New York Mellon Corp reduced its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 39,906 shares of the company’s stock after selling 2,122 shares during the quarter. Bank of New York Mellon Corp’s holdings in ZIM Integrated Shipping Services were worth $857,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ZIM. Sunbelt Securities Inc. purchased a new position in shares of ZIM Integrated Shipping Services during the third quarter worth $71,000. Mark Sheptoff Financial Planning LLC lifted its stake in ZIM Integrated Shipping Services by 126.7% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 3,400 shares of the company’s stock worth $87,000 after acquiring an additional 1,900 shares in the last quarter. R Squared Ltd acquired a new position in ZIM Integrated Shipping Services during the 4th quarter worth about $88,000. HighTower Advisors LLC purchased a new position in ZIM Integrated Shipping Services during the 3rd quarter valued at about $263,000. Finally, Truist Financial Corp grew its position in ZIM Integrated Shipping Services by 10.2% in the 4th quarter. Truist Financial Corp now owns 14,804 shares of the company’s stock valued at $318,000 after acquiring an additional 1,376 shares in the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays cut their target price on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a research note on Monday, March 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $18.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. decreased their target price on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and a consensus price target of $13.54.

ZIM Integrated Shipping Services Stock Performance

NYSE ZIM opened at $15.19 on Wednesday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 1.27, a PEG ratio of 0.27 and a beta of 1.70. The business’s 50 day moving average is $18.75 and its two-hundred day moving average is $20.59. ZIM Integrated Shipping Services Ltd. has a 12-month low of $9.56 and a 12-month high of $30.15. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $1.19. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.99 billion. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. Research analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th will be issued a dividend of $3.17 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. This represents a $12.68 annualized dividend and a yield of 83.48%. The ex-dividend date is Monday, March 24th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 6.51%.

ZIM Integrated Shipping Services Profile

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.