JPMorgan Chase & Co. Has $46.48 Million Stock Position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

JPMorgan Chase & Co. increased its holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 59.4% during the third quarter, HoldingsChannel reports. The fund owned 1,811,447 shares of the company’s stock after acquiring an additional 674,723 shares during the quarter. JPMorgan Chase & Co.’s holdings in ZIM Integrated Shipping Services were worth $46,482,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairman Group LLC bought a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after buying an additional 1,850 shares during the last quarter. American Capital Advisory LLC bought a new position in shares of ZIM Integrated Shipping Services in the third quarter valued at approximately $69,000. Finally, Sunbelt Securities Inc. bought a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at $71,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ZIM. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Barclays increased their price target on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a research note on Monday, November 25th. Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Fearnley Fonds lowered shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Finally, Jefferies Financial Group lowered their price target on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ZIM Integrated Shipping Services presently has an average rating of “Hold” and an average target price of $15.14.

ZIM Integrated Shipping Services Stock Down 3.5 %

ZIM opened at $22.49 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The business’s fifty day simple moving average is $22.21 and its 200 day simple moving average is $20.77. ZIM Integrated Shipping Services Ltd. has a 52 week low of $9.08 and a 52 week high of $30.15. The stock has a market cap of $2.71 billion, a PE ratio of 1.88, a P/E/G ratio of 0.04 and a beta of 1.78.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were given a dividend of $2.81 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a dividend yield of 49.98%. ZIM Integrated Shipping Services’s dividend payout ratio is 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.