JPMorgan Chase & Co. Raises Position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

JPMorgan Chase & Co. increased its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 59.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,811,447 shares of the company's stock after purchasing an additional 674,723 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.50% of ZIM Integrated Shipping Services worth $46,482,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ZIM. Van ECK Associates Corp increased its stake in shares of ZIM Integrated Shipping Services by 9.6% in the 2nd quarter. Van ECK Associates Corp now owns 37,488 shares of the company's stock valued at $831,000 after buying an additional 3,296 shares during the period. Rhumbline Advisers lifted its holdings in shares of ZIM Integrated Shipping Services by 39.3% during the 2nd quarter. Rhumbline Advisers now owns 11,732 shares of the company's stock valued at $260,000 after purchasing an additional 3,311 shares in the last quarter. PFG Investments LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 35.5% in the second quarter. PFG Investments LLC now owns 26,806 shares of the company's stock valued at $594,000 after buying an additional 7,017 shares during the period. Chesapeake Capital Corp IL acquired a new position in ZIM Integrated Shipping Services in the 2nd quarter worth $380,000. Finally, Headlands Technologies LLC grew its holdings in shares of ZIM Integrated Shipping Services by 790.8% during the second quarter. Headlands Technologies LLC now owns 18,805 shares of the company's stock worth $417,000 after buying an additional 16,694 shares in the last quarter. 21.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ZIM. Barclays upped their price objective 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 raised ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. reiterated 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. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group reduced their price objective on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a "hold" rating on the stock in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $15.14.

ZIM Integrated Shipping Services Stock Down 4.5 %

ZIM Integrated Shipping Services stock traded down $1.02 during midday trading on Monday, hitting $21.47. 5,047,815 shares of the stock were exchanged, compared to its average volume of 4,926,208. 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 stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 1.80, a price-to-earnings-growth ratio of 0.04 and a beta of 1.77. ZIM Integrated Shipping Services Ltd. has a 52-week low of $9.08 and a 52-week high of $30.15. The business's 50-day moving average price is $22.21 and its 200-day moving average price is $20.77.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a dividend of $2.81 per share. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $0.93. The ex-dividend date was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a yield of 52.35%. ZIM Integrated Shipping Services's payout ratio is presently 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.