Sierra Summit Advisors LLC Sells 33,891 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

Sierra Summit Advisors LLC lowered its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIMFree Report) by 53.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,111 shares of the company’s stock after selling 33,891 shares during the quarter. Sierra Summit Advisors LLC’s holdings in ZIM Integrated Shipping Services were worth $618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ZIM. Royal Bank of Canada raised its stake in shares of ZIM Integrated Shipping Services by 8.2% during the first quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock worth $596,000 after buying an additional 3,102 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of ZIM Integrated Shipping Services during the first quarter worth approximately $210,000. Goldman Sachs Group Inc. raised its stake in shares of ZIM Integrated Shipping Services by 20.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock worth $68,879,000 after buying an additional 788,514 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of ZIM Integrated Shipping Services by 5.6% during the second quarter. Geode Capital Management LLC now owns 119,218 shares of the company’s stock worth $1,915,000 after buying an additional 6,342 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of ZIM Integrated Shipping Services by 505.1% during the second quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company’s stock worth $1,236,000 after buying an additional 64,057 shares during the last quarter. Institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services News Roundup

Here are the key news stories impacting ZIM Integrated Shipping Services this week:

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup raised shares of ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $11.50 to $31.80 in a research note on Thursday, February 19th. Weiss Ratings downgraded ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a report on Tuesday, March 10th. Barclays upped their price objective on ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the company an “underweight” rating in a report on Monday, March 16th. Finally, Fearnley Fonds upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, ZIM Integrated Shipping Services presently has an average rating of “Hold” and an average target price of $17.83.

View Our Latest Analysis on ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Stock Down 0.1%

Shares of NYSE:ZIM opened at $25.15 on Friday. ZIM Integrated Shipping Services Ltd. has a 52 week low of $12.33 and a 52 week high of $29.97. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.15 and a current ratio of 1.23. The company has a market capitalization of $3.03 billion, a PE ratio of 31.04 and a beta of 1.26. The company has a 50 day moving average price of $26.38 and a two-hundred day moving average price of $23.24.

ZIM Integrated Shipping Services (NYSE:ZIMGet Free Report) last issued its earnings results on Wednesday, May 20th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.48 billion. Analysts forecast that ZIM Integrated Shipping Services Ltd. will post -7.24 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Friday, March 20th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, March 20th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. This represents a $3.52 annualized dividend and a yield of 14.0%. ZIM Integrated Shipping Services’s payout ratio is currently 1.51%.

About ZIM Integrated Shipping Services

(Free Report)

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.

Further Reading

Institutional Ownership by Quarter for ZIM Integrated Shipping Services (NYSE:ZIM)

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