Corton Capital Inc. trimmed its holdings in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 46.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,399 shares of the company's stock after selling 17,879 shares during the quarter. ZIM Integrated Shipping Services comprises about 0.3% of Corton Capital Inc.'s investment portfolio, making the stock its 24th largest holding. Corton Capital Inc.'s holdings in ZIM Integrated Shipping Services were worth $438,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of ZIM Integrated Shipping Services by 59.4% during the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company's stock worth $46,482,000 after purchasing an additional 674,723 shares during the period. Raymond James Financial Inc. acquired a new position in ZIM Integrated Shipping Services in the 4th quarter valued at $1,771,000. Decker Retirement Planning Inc. acquired a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter worth $5,509,000. HighTower Advisors LLC raised its stake in ZIM Integrated Shipping Services by 20.5% in the fourth quarter. HighTower Advisors LLC now owns 12,246 shares of the company's stock valued at $263,000 after purchasing an additional 2,080 shares in the last quarter. Finally, Truist Financial Corp grew its stake in ZIM Integrated Shipping Services by 10.2% during the fourth quarter. Truist Financial Corp now owns 14,804 shares of the company's stock worth $318,000 after buying an additional 1,376 shares in the last quarter. Institutional investors and hedge funds own 21.42% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on ZIM. Barclays cut their price target on shares of ZIM Integrated Shipping Services from $13.50 to $12.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Jefferies Financial Group reiterated a "hold" rating and issued a $18.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price target 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. Finally, Bank of America decreased their target price on 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. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $13.06.
View Our Latest Stock Report on ZIM
ZIM Integrated Shipping Services Trading Up 0.2 %
Shares of NYSE ZIM traded up $0.03 during trading on Friday, reaching $14.28. The company had a trading volume of 2,443,623 shares, compared to its average volume of 6,051,810. The company's fifty day moving average price is $15.39 and its 200-day moving average price is $18.92. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The stock has a market cap of $1.72 billion, a P/E ratio of 1.20, a PEG ratio of 0.27 and a beta of 1.84. ZIM Integrated Shipping Services Ltd. has a 12 month low of $11.04 and a 12 month high of $30.15.
ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $1.19. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.99 billion. As a group, research 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 business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were given a dividend of $3.17 per share. This represents a $12.68 dividend on an annualized basis and a dividend yield of 88.80%. The ex-dividend date was Monday, March 24th. This is an increase from ZIM Integrated Shipping Services's previous quarterly dividend of $2.81. ZIM Integrated Shipping Services's payout ratio is presently 6.51%.
ZIM Integrated Shipping Services Company Profile
(
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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