Kestra Private Wealth Services LLC Buys New Position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Key Points

• Kestra Private Wealth Services LLC acquired 21,693 shares of ZIM Integrated Shipping Services valued at approximately $317,000 in the first quarter of the year.
• ZIM Integrated Shipping Services recently reported earnings per share of $2.45, exceeding analyst expectations by $0.56, and had a revenue of $2.01 billion for the quarter.
• The company declared a dividend of $0.74 on June 9th, representing a 16.96% yield, with a payout ratio of 4.76%.

Kestra Private Wealth Services LLC purchased a new position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,693 shares of the company's stock, valued at approximately $317,000.

Other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund purchased a new stake in ZIM Integrated Shipping Services in the first quarter valued at approximately $30,000. Altshuler Shaham Ltd lifted its stake in shares of ZIM Integrated Shipping Services by 650.0% in the 4th quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company's stock valued at $32,000 after purchasing an additional 1,300 shares in the last quarter. Employees Retirement System of Texas acquired a new position in shares of ZIM Integrated Shipping Services in the 4th quarter valued at about $45,000. Brown Brothers Harriman & Co. acquired a new position in shares of ZIM Integrated Shipping Services in the 4th quarter valued at about $79,000. Finally, Miracle Mile Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services in the 1st quarter valued at about $146,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZIM has been the topic of several research analyst reports. Clarkson Capital lowered ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price objective on the stock. in a research note on Tuesday, May 20th. Barclays upped their target price 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. Jefferies Financial Group upped their target price on shares of 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. Finally, Bank of America decreased their target price on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an "underperform" rating for the company in a research note on Friday, April 11th. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, ZIM Integrated Shipping Services presently has an average rating of "Reduce" and a consensus price target of $14.82.

ZIM Integrated Shipping Services Stock Performance

Shares of NYSE ZIM traded down $0.04 during trading on Thursday, reaching $15.90. The stock had a trading volume of 792,701 shares, compared to its average volume of 6,196,520. ZIM Integrated Shipping Services Ltd. has a one year low of $11.03 and a one year high of $30.15. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.10 and a current ratio of 1.18. The stock has a market cap of $1.91 billion, a PE ratio of 0.81, a P/E/G ratio of 0.28 and a beta of 1.76. The firm's 50 day moving average price is $16.58 and its two-hundred day moving average price is $16.81.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its earnings results on Monday, May 19th. The company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.56. The company had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.84 billion. ZIM Integrated Shipping Services had a net margin of 26.52% and a return on equity of 63.46%. During the same period in the prior year, the company earned $0.75 earnings per share. On average, research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Dividend Announcement

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

About ZIM Integrated Shipping Services

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.