Canada Pension Plan Investment Board Increases Holdings in ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• The Canada Pension Plan Investment Board increased its stake in ZIM Integrated Shipping Services by 97% in Q1, holding approximately 0.17% of the company's shares valued at nearly $3 million.
• Shares of ZIM have been rated predominantly as sell or neutral by analysts, with a consensus rating of "Strong Sell" and an average price target of $14.58.
• After reporting earnings that missed estimates with a net margin of 23.37%, ZIM has also announced a reduced quarterly dividend of $0.06, reflecting an annualized yield of 1.8%.

Canada Pension Plan Investment Board increased its holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 97.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,295 shares of the company's stock after purchasing an additional 99,632 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.17% of ZIM Integrated Shipping Services worth $2,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp acquired a new position in shares of ZIM Integrated Shipping Services during the 4th quarter worth approximately $962,000. Northern Trust Corp raised its stake 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 worth $4,555,000 after acquiring an additional 127,367 shares during the period. BNP Paribas Financial Markets bought a new stake in ZIM Integrated Shipping Services during the fourth quarter worth approximately $16,381,000. Bridgefront Capital LLC acquired a new position in shares of ZIM Integrated Shipping Services during the 4th quarter worth $290,000. Finally, Centiva Capital LP acquired a new stake in ZIM Integrated Shipping Services in the 4th quarter worth $2,535,000. 21.42% of the stock is owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Price Performance

NYSE ZIM traded down $0.16 during mid-day trading on Monday, hitting $13.34. The stock had a trading volume of 2,344,937 shares, compared to its average volume of 6,141,530. 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 50 day simple moving average of $15.56 and a 200 day simple moving average of $16.22. 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 company has a market cap of $1.61 billion, a price-to-earnings ratio of 0.80, a P/E/G ratio of 0.16 and a beta of 1.74.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its earnings results on Wednesday, August 20th. The company reported $0.19 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 analyst estimates of $1.84 billion. Equities analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS 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. Investors of record on Tuesday, September 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, September 2nd. ZIM Integrated Shipping Services's dividend payout ratio is 1.44%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Clarkson Capital cut shares of ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 target price for the company. in a report on Tuesday, May 20th. Barclays lowered their target price on shares of 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. Citigroup reiterated a "sell" rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. Jefferies Financial Group reiterated a "hold" rating and issued a $17.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. boosted their price target on ZIM Integrated Shipping Services from $9.50 to $9.80 and gave the stock an "underweight" rating in a report on Friday, August 22nd. Two analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Strong Sell" and a consensus target price of $14.58.

ZIM Integrated Shipping Services Company 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.