Hsbc Holdings PLC Purchases 21,474 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Hsbc Holdings PLC grew its position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 73.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,860 shares of the company’s stock after purchasing an additional 21,474 shares during the quarter. Hsbc Holdings PLC’s holdings in ZIM Integrated Shipping Services were worth $1,116,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ZIM. Allianz Asset Management GmbH increased its position in ZIM Integrated Shipping Services by 1,446.0% during the fourth quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock worth $1,595,000 after acquiring an additional 151,102 shares during the period. Seven Eight Capital LP increased its position in ZIM Integrated Shipping Services by 166.1% during the fourth quarter. Seven Eight Capital LP now owns 83,745 shares of the company’s stock worth $827,000 after acquiring an additional 52,270 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in ZIM Integrated Shipping Services by 81.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,560 shares of the company’s stock worth $956,000 after acquiring an additional 40,326 shares during the period. Y.D. More Investments Ltd bought a new position in ZIM Integrated Shipping Services during the second quarter worth $790,000. Finally, Charles Schwab Investment Management Inc. increased its position in ZIM Integrated Shipping Services by 82.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock worth $5,054,000 after acquiring an additional 231,955 shares during the period. Institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Stock Up 3.1 %

Shares of NYSE:ZIM opened at $24.24 on Friday. ZIM Integrated Shipping Services Ltd. has a 52 week low of $6.39 and a 52 week high of $25.13. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04. The company’s fifty day moving average is $19.29 and its 200-day moving average is $17.10. The company has a market capitalization of $2.92 billion, a PE ratio of -1.15, a P/E/G ratio of 0.05 and a beta of 1.83.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $1.01. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. During the same quarter in the prior year, the company earned ($1.37) EPS. Equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post 10.87 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Thursday, August 29th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 dividend on an annualized basis and a yield of 15.35%. ZIM Integrated Shipping Services’s dividend payout ratio is presently -4.35%.

Wall Street Analyst Weigh In

ZIM has been the topic of several analyst reports. Bank of America boosted their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Citigroup lowered shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and boosted their price target for the company from $11.60 to $13.00 in a report on Thursday, June 6th. Barclays boosted their price target on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $22.00 price target on shares of ZIM Integrated Shipping Services in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $14.84.

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.