35,768 Shares in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Purchased by Sierra Summit Advisors LLC

Key Points

• Sierra Summit Advisors LLC has acquired a new stake in ZIM Integrated Shipping Services Ltd., purchasing 35,768 shares valued at approximately $522,000.
• ZIM reported a quarterly earnings per share of $2.45, exceeding the expected $1.89, alongside a revenue of $2.01 billion.
• The company recently declared a dividend of $0.74 per share, reflecting a remarkable dividend yield of 1,696.0%.

Sierra Summit Advisors LLC purchased a new stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 35,768 shares of the company's stock, valued at approximately $522,000.

Several other institutional investors have also recently modified their holdings of the company. Northern Trust Corp raised its position in ZIM Integrated Shipping Services by 150.2% during the fourth quarter. Northern Trust Corp now owns 212,148 shares of the company's stock valued at $4,555,000 after acquiring an additional 127,367 shares in the last quarter. Mariner LLC purchased a new position in ZIM Integrated Shipping Services during the fourth quarter valued at approximately $735,000. Janney Montgomery Scott LLC raised its position in ZIM Integrated Shipping Services by 13.8% during the first quarter. Janney Montgomery Scott LLC now owns 53,658 shares of the company's stock valued at $783,000 after acquiring an additional 6,519 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in ZIM Integrated Shipping Services by 7.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 97,812 shares of the company's stock valued at $1,427,000 after acquiring an additional 6,873 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in ZIM Integrated Shipping Services by 121.7% during 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 in the last quarter. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup reiterated a "sell" rating on shares of ZIM Integrated Shipping Services in a research report on Monday. 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. Clarkson Capital cut shares of ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price objective for the company. in a research report on Tuesday, May 20th. Finally, Jefferies Financial Group upped their price objective on shares of ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the stock a "hold" rating in a research report on Tuesday, May 20th. Five research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $14.82.

ZIM Integrated Shipping Services Trading Up 1.7%

NYSE ZIM traded up $0.30 on Wednesday, reaching $17.64. 615,629 shares of the company were exchanged, compared to its average volume of 6,190,222. The business's fifty day moving average price is $16.33 and its 200 day moving average price is $16.76. The stock has a market capitalization of $2.12 billion, a P/E ratio of 0.90, a price-to-earnings-growth ratio of 0.24 and a beta of 1.75. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.16. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $11.03 and a fifty-two week high of $30.15.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its quarterly earnings results on Monday, May 19th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $1.89 by $0.56. ZIM Integrated Shipping Services had a return on equity of 63.46% and a net margin of 26.52%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company posted $0.75 EPS. Analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current 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 paid a $0.74 dividend. This represents a dividend yield of 1,696.0%. The ex-dividend date of this dividend was Monday, June 2nd. ZIM Integrated Shipping Services's dividend payout ratio is 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.