Kingstone Capital Partners Texas LLC Buys Shares of 985,080 ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new stake in ZIM Integrated Shipping Services Ltd., purchasing 985,080 shares valued at approximately $15.85 million during the second quarter.
• A majority of analysts have rated ZIM Integrated Shipping Services with a consensus rating of "Strong Sell" and a target price of $14.58, amidst a significant earnings miss reported in August.
• The company recently announced a quarterly dividend of $0.06 per share, resulting in an annualized yield of 1.7%, despite a declining stock performance with a twelve-month low of $11.03.

Kingstone Capital Partners Texas LLC purchased a new position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 985,080 shares of the company's stock, valued at approximately $15,850,000. Kingstone Capital Partners Texas LLC owned about 0.82% of ZIM Integrated Shipping Services at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZIM. Janney Montgomery Scott LLC lifted its holdings in ZIM Integrated Shipping Services by 13.8% in the first quarter. Janney Montgomery Scott LLC now owns 53,658 shares of the company's stock valued at $783,000 after buying an additional 6,519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in ZIM Integrated Shipping Services in the 1st quarter valued at $8,112,000. Cambridge Investment Research Advisors Inc. increased its position in shares of ZIM Integrated Shipping Services by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 97,812 shares of the company's stock valued at $1,427,000 after purchasing an additional 6,873 shares during the last quarter. American Century Companies Inc. increased its holdings in ZIM Integrated Shipping Services by 19.1% in the 1st quarter. American Century Companies Inc. now owns 2,280,289 shares of the company's stock worth $33,269,000 after acquiring an additional 366,205 shares during the last quarter. Finally, Bessemer Group Inc. bought a new position in ZIM Integrated Shipping Services in the 1st quarter worth about $457,000. 21.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ZIM shares. Citigroup reiterated a "sell" rating on shares of ZIM Integrated Shipping Services in a research report on Monday, August 11th. JPMorgan Chase & Co. lifted their price target on ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the stock an "underweight" rating in a research note on Friday, August 22nd. Barclays decreased their price target on ZIM Integrated Shipping Services from $14.80 to $13.30 and set an "underweight" rating on the stock in a research note on Thursday, August 28th. Jefferies Financial Group reissued a "hold" rating and set a $17.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, August 20th. Finally, Wall Street Zen cut ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Two research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services currently has an average rating of "Strong Sell" and a consensus price target of $14.58.

ZIM Integrated Shipping Services Trading Down 2.3%

Shares of ZIM stock traded down $0.34 on Tuesday, reaching $14.32. 1,928,613 shares of the company's stock were exchanged, compared to its average volume of 6,070,058. The company's fifty day simple moving average is $15.15 and its 200 day simple moving average is $15.72. The stock has a market capitalization of $1.72 billion, a PE ratio of 0.86, a P/E/G ratio of 0.17 and a beta of 1.74. ZIM Integrated Shipping Services Ltd. has a 52 week low of $11.03 and a 52 week high of $30.15. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.20.

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

ZIM Integrated Shipping Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, September 2nd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. ZIM Integrated Shipping Services's payout ratio is 1.44%.

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.