PFG Investments LLC Acquires 22,948 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

PFG Investments LLC increased its holdings in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 85.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,754 shares of the company’s stock after acquiring an additional 22,948 shares during the quarter. PFG Investments LLC’s holdings in ZIM Integrated Shipping Services were worth $1,277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ZIM. Fairman Group LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in ZIM Integrated Shipping Services during the third quarter worth about $31,000. Northwestern Mutual Wealth Management Co. raised its position in ZIM Integrated Shipping Services by 2,341.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after acquiring an additional 1,850 shares during the period. Mather Group LLC. bought a new stake in ZIM Integrated Shipping Services in the second quarter worth about $96,000. Finally, Russell Investments Group Ltd. boosted its stake in ZIM Integrated Shipping Services by 1,431.1% in the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after acquiring an additional 5,667 shares during the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ZIM shares. Bank of America raised their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Jefferies Financial Group lowered ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Finally, Barclays lifted their price objective on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $15.22.

ZIM Integrated Shipping Services Stock Up 0.6 %

ZIM Integrated Shipping Services stock opened at $22.80 on Friday. The firm has a 50 day simple moving average of $20.52 and a 200 day simple moving average of $18.72. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41. ZIM Integrated Shipping Services Ltd. has a 1-year low of $6.39 and a 1-year high of $26.20. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -1.08, a P/E/G ratio of 0.05 and a beta of 1.86.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned ($1.37) earnings per share. On average, analysts predict that ZIM Integrated Shipping Services Ltd. will post 11.22 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 16.32%. The ex-dividend date was Thursday, August 29th. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. ZIM Integrated Shipping Services’s payout ratio is presently -4.35%.

ZIM Integrated Shipping Services 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.