Menora Mivtachim Holdings LTD. Lowers Stock Holdings in ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Menora Mivtachim Holdings LTD. has reduced its stake in ZIM Integrated Shipping Services by 50%, selling 700,504 shares, now holding 0.58% of the company valued at approximately $10.2 million.
• Recent analyst reports have mixed ratings for ZIM, with Jefferies raising their price target to $17 while Clarkson Capital downgraded it to $20, reflecting divided opinions on the stock's potential.
• ZIM Integrated Shipping Services announced a dividend of $0.74 per share, translating to a substantial dividend yield of 1,696.0%, with a payout ratio of only 4.76%.

Menora Mivtachim Holdings LTD. cut its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 50.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 700,000 shares of the company's stock after selling 700,504 shares during the quarter. Menora Mivtachim Holdings LTD. owned approximately 0.58% of ZIM Integrated Shipping Services worth $10,213,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ZIM. Geode Capital Management LLC lifted its holdings in ZIM Integrated Shipping Services by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 95,839 shares of the company's stock valued at $2,058,000 after acquiring an additional 7,753 shares during the period. Russell Investments Group Ltd. lifted its holdings in ZIM Integrated Shipping Services by 121.7% in the fourth quarter. Russell Investments Group Ltd. now owns 12,595 shares of the company's stock valued at $270,000 after acquiring an additional 6,913 shares during the period. Invesco Ltd. lifted its holdings in ZIM Integrated Shipping Services by 0.9% in the fourth quarter. Invesco Ltd. now owns 462,507 shares of the company's stock valued at $9,930,000 after acquiring an additional 4,201 shares during the period. Legal & General Group Plc raised its stake in shares of ZIM Integrated Shipping Services by 20.2% during the 4th quarter. Legal & General Group Plc now owns 216,393 shares of the company's stock worth $4,646,000 after buying an additional 36,342 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of ZIM Integrated Shipping Services during the 4th quarter worth approximately $365,000. 21.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ZIM shares. Jefferies Financial Group upped their target price on ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the stock a "hold" rating in a research note on Tuesday, May 20th. Citigroup reaffirmed a "sell" rating on shares of ZIM Integrated Shipping Services in a research note on Monday, August 11th. Barclays upped their target price on ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the stock an "underweight" rating in a research note on Friday, June 27th. Finally, Clarkson Capital downgraded ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 target price for the company. in a research note on Tuesday, May 20th. Two analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, ZIM Integrated Shipping Services presently has a consensus rating of "Strong Sell" and an average price target of $14.82.

ZIM Integrated Shipping Services Trading Down 3.7%

Shares of ZIM traded down $0.6040 during midday trading on Tuesday, reaching $15.5660. The company had a trading volume of 9,551,358 shares, compared to its average volume of 4,974,598. ZIM Integrated Shipping Services Ltd. has a 1-year low of $11.03 and a 1-year high of $30.15. The stock has a market cap of $1.87 billion, a PE ratio of 0.83, a price-to-earnings-growth ratio of 0.22 and a beta of 1.75. The firm has a 50 day simple moving average of $16.30 and a 200-day simple moving average of $16.72. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 1.16.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its quarterly 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 business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.84 billion. ZIM Integrated Shipping Services had a return on equity of 63.46% and a net margin of 26.52%.During the same period in the prior year, the business posted $0.75 EPS. Research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.74 per share. The ex-dividend date was Monday, June 2nd. This represents a dividend yield of 1,696.0%. ZIM Integrated Shipping Services's dividend 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.