Blueshift Asset Management LLC Buys New Position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Blueshift Asset Management LLC purchased a new position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) in the 3rd quarter, HoldingsChannel reports. The firm purchased 24,165 shares of the company’s stock, valued at approximately $620,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of ZIM Integrated Shipping Services by 1,431.1% during the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after buying an additional 5,667 shares during the period. California State Teachers Retirement System lifted its stake in shares of ZIM Integrated Shipping Services by 2.4% in the 1st quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock valued at $1,060,000 after purchasing an additional 2,423 shares during the period. Tidal Investments LLC boosted its position in shares of ZIM Integrated Shipping Services by 18.4% during the 1st quarter. Tidal Investments LLC now owns 55,779 shares of the company’s stock valued at $564,000 after purchasing an additional 8,665 shares in the last quarter. Virtu Financial LLC bought a new stake in ZIM Integrated Shipping Services in the first quarter worth approximately $257,000. Finally, Cetera Advisors LLC acquired a new position in ZIM Integrated Shipping Services in the first quarter valued at approximately $130,000. Institutional investors own 21.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays boosted their target price on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a research report on Monday. Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Bank of America increased their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Finally, Jefferies Financial Group restated a “hold” rating and set a $25.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, November 20th. Five analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.74.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE ZIM opened at $22.11 on Thursday. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 1.85, a PEG ratio of 0.04 and a beta of 1.88. 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 Ltd. has a fifty-two week low of $6.39 and a fifty-two week high of $30.15. The firm’s 50-day simple moving average is $22.94 and its 200 day simple moving average is $20.64.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a $2.81 dividend. This represents a $11.24 dividend on an annualized basis and a dividend yield of 50.85%. The ex-dividend date is Monday, December 2nd. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 9.72%.

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.