Canada Pension Plan Investment Board Acquires 99,632 Shares of 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 lifted its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 97.0% during the 1st quarter, according to its most recent 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 period. Canada Pension Plan Investment Board owned 0.17% of ZIM Integrated Shipping Services worth $2,951,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. New York State Common Retirement Fund acquired a new position in shares of ZIM Integrated Shipping Services during the 1st quarter worth about $30,000. Employees Retirement System of Texas acquired a new position in ZIM Integrated Shipping Services in the 4th quarter valued at about $45,000. Miracle Mile Advisors LLC acquired a new position in ZIM Integrated Shipping Services in the 1st quarter valued at about $146,000. TD Asset Management Inc acquired a new position in ZIM Integrated Shipping Services in the 1st quarter valued at about $155,000. Finally, SeaCrest Wealth Management LLC acquired a new position in ZIM Integrated Shipping Services in the 1st quarter valued at about $161,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZIM has been the topic of a number of research reports. Citigroup reiterated a "sell" rating on shares of ZIM Integrated Shipping Services in a research note on Monday, August 11th. Jefferies Financial Group reissued a "hold" rating and issued a $17.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, August 20th. Clarkson Capital downgraded 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 report on Tuesday, May 20th. Wall Street Zen downgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Finally, Barclays cut their price objective on shares of ZIM Integrated Shipping Services from $14.80 to $13.30 and set an "underweight" rating for the company in a report on Thursday, August 28th. 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 MarketBeat.com, the stock has an average rating of "Strong Sell" and a consensus target price of $14.58.

ZIM Integrated Shipping Services Stock Performance

NYSE ZIM traded down $0.01 during trading hours on Tuesday, reaching $13.38. 860,141 shares of the company were exchanged, compared to its average volume of 6,115,188. ZIM Integrated Shipping Services Ltd. has a 1 year low of $11.03 and a 1 year high of $30.15. The business's 50 day simple moving average is $15.51 and its 200-day simple moving average is $16.17. 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 stock has a market capitalization of $1.61 billion, a P/E 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 posted its quarterly earnings results on Wednesday, August 20th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($1.31). The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.84 billion. ZIM Integrated Shipping Services had a net margin of 23.37% and a return on equity of 50.61%. On average, equities research analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, September 2nd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.24 annualized dividend and a yield of 1.8%. ZIM Integrated Shipping Services's dividend payout ratio (DPR) is 1.44%.

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.