Invesco Ltd. Sells 135,694 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Invesco Ltd. has reduced its stake in ZIM Integrated Shipping Services Ltd. by 29.3%, selling 135,694 shares and now owns 326,813 shares valued at approximately $4.77 million.
• The company's latest earnings report revealed an EPS of $0.19, significantly missing analyst expectations of $1.50, and revenue was reported at $1.64 billion versus an estimated $1.84 billion.
• ZIM Integrated Shipping Services announced a quarterly dividend of $0.06 per share, resulting in an annualized dividend yield of 1.7%, although the dividend payout ratio stands at 5.59%.

Invesco Ltd. reduced its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 29.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 326,813 shares of the company's stock after selling 135,694 shares during the quarter. Invesco Ltd. owned 0.27% of ZIM Integrated Shipping Services worth $4,768,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at approximately $16,381,000. Point72 Asset Management L.P. bought a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter worth $14,324,000. Nomura Holdings Inc. bought a new stake in ZIM Integrated Shipping Services during the fourth quarter valued at $13,148,000. Nuveen Asset Management LLC boosted its position in ZIM Integrated Shipping Services by 750.0% during the fourth quarter. Nuveen Asset Management LLC now owns 625,833 shares of the company's stock valued at $13,437,000 after acquiring an additional 552,206 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in shares of ZIM Integrated Shipping Services during the 4th quarter worth about $3,350,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Price Performance

Shares of ZIM opened at $14.26 on Thursday. ZIM Integrated Shipping Services Ltd. has a twelve month low of $11.03 and a twelve month high of $30.15. The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 1.20. The firm has a 50 day moving average of $15.94 and a 200 day moving average of $16.59. The company has a market capitalization of $1.72 billion, a P/E ratio of 0.86, a price-to-earnings-growth ratio of 0.17 and a beta of 1.75.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its earnings results on Wednesday, August 20th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($1.31). ZIM Integrated Shipping Services had a return on equity of 50.61% and a net margin of 23.37%.The company had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.84 billion. As a group, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.7%. ZIM Integrated Shipping Services's dividend payout ratio is presently 5.59%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays raised their price target 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. Jefferies Financial Group reaffirmed a "hold" rating and issued a $17.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, August 20th. Wall Street Zen lowered shares of ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. boosted their price target on shares of ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the company an "underweight" rating in a research report on Friday, August 22nd. Finally, Clarkson Capital downgraded shares of ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price target for the company. in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Strong Sell" and an average target price of $14.88.

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.

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