KLP Kapitalforvaltning AS Acquires 5,300 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

by · The Markets Daily

KLP Kapitalforvaltning AS lifted its holdings in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Free Report) by 23.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,800 shares of the company’s stock after purchasing an additional 5,300 shares during the period. KLP Kapitalforvaltning AS’s holdings in ZIM Integrated Shipping Services were worth $406,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Altshuler Shaham Ltd raised its holdings 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 purchasing an additional 1,300 shares during the last quarter. New York State Common Retirement Fund bought a new position in ZIM Integrated Shipping Services during the first quarter worth $30,000. Employees Retirement System of Texas acquired a new position in ZIM Integrated Shipping Services in the fourth quarter valued at $45,000. Brown Brothers Harriman & Co. bought a new stake in ZIM Integrated Shipping Services during the fourth quarter valued at $79,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in ZIM Integrated Shipping Services during the 4th quarter worth about $186,000. Institutional investors own 21.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Jefferies Financial Group boosted their price objective on ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Tuesday, May 20th. Clarkson Capital lowered ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research note on Tuesday, May 20th. Bank of America cut their price target on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating on the stock in a report on Friday, April 11th. Finally, 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 note on Friday, June 27th. Four research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $14.82.

Get Our Latest Report on ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Stock Down 2.5%

Shares of NYSE:ZIM opened at $15.97 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.10 and a current ratio of 1.18. ZIM Integrated Shipping Services Ltd. has a 52-week low of $11.03 and a 52-week high of $30.15. The business’s 50 day simple moving average is $16.58 and its two-hundred day simple moving average is $16.81. The firm has a market cap of $1.92 billion, a P/E ratio of 0.82, a PEG ratio of 0.28 and a beta of 1.76.

ZIM Integrated Shipping Services (NYSE:ZIM – Get Free Report) last posted its quarterly earnings results on Monday, May 19th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.56. ZIM Integrated Shipping Services had a net margin of 26.52% and a return on equity of 63.46%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm posted $0.75 EPS. As a group, research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Dividend Announcement

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

About ZIM Integrated Shipping Services

(Free Report)

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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