Tidal Investments LLC Cuts Stock Position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Tidal Investments LLC lowered its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 87.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 68,530 shares of the company’s stock after selling 470,523 shares during the quarter. Tidal Investments LLC’s holdings in ZIM Integrated Shipping Services were worth $1,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Van ECK Associates Corp grew its stake in shares of ZIM Integrated Shipping Services by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 38,079 shares of the company’s stock worth $977,000 after buying an additional 591 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in ZIM Integrated Shipping Services by 2.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 44,292 shares of the company’s stock valued at $1,137,000 after purchasing an additional 915 shares during the last quarter. Fairman Group LLC purchased a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at $26,000. Olympiad Research LP boosted its stake in ZIM Integrated Shipping Services by 12.9% during the 3rd quarter. Olympiad Research LP now owns 10,588 shares of the company’s stock valued at $272,000 after purchasing an additional 1,212 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

Analysts Set New Price Targets

ZIM has been the topic of several recent analyst reports. Bank of America increased their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Barclays increased their target price on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a research note on Monday, November 25th. Jefferies Financial Group lowered their price target on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.14.

ZIM Integrated Shipping Services Price Performance

Shares of ZIM Integrated Shipping Services stock opened at $18.41 on Wednesday. ZIM Integrated Shipping Services Ltd. has a one year low of $9.08 and a one year high of $30.15. The stock’s fifty day moving average is $22.38 and its 200 day moving average is $20.66. The stock has a market cap of $2.22 billion, a P/E ratio of 1.54, a P/E/G ratio of 0.04 and a beta of 1.78. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were issued a $2.81 dividend. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 dividend on an annualized basis and a yield of 61.07%. The ex-dividend date of this dividend was Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 9.72%.

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.