Optimize Financial Inc Takes $277,000 Position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Optimize Financial Inc acquired a new position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,902 shares of the company’s stock, valued at approximately $277,000.

Several other hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of ZIM Integrated Shipping Services by 59.4% in the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock worth $46,482,000 after buying an additional 674,723 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of ZIM Integrated Shipping Services in the 4th quarter valued at approximately $1,771,000. Decker Retirement Planning Inc. acquired a new stake in ZIM Integrated Shipping Services in the 4th quarter worth approximately $5,509,000. HighTower Advisors LLC boosted its position in ZIM Integrated Shipping Services by 20.5% during the fourth quarter. HighTower Advisors LLC now owns 12,246 shares of the company’s stock worth $263,000 after purchasing an additional 2,080 shares during the period. Finally, Truist Financial Corp grew its holdings in ZIM Integrated Shipping Services by 10.2% during the fourth quarter. Truist Financial Corp now owns 14,804 shares of the company’s stock valued at $318,000 after purchasing an additional 1,376 shares during the last quarter. 21.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ZIM shares. JPMorgan Chase & Co. decreased their price objective on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Bank of America decreased their price target on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating for the company in a report on Friday. Barclays dropped their price objective on ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a research note on Monday, March 17th. Finally, Jefferies Financial Group restated a “hold” rating and set a $18.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. Five investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.36.

ZIM Integrated Shipping Services Stock Performance

NYSE ZIM opened at $13.81 on Friday. The company’s fifty day moving average is $17.77 and its two-hundred day moving average is $19.98. ZIM Integrated Shipping Services Ltd. has a 52-week low of $9.75 and a 52-week high of $30.15. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 1.16, a P/E/G ratio of 0.27 and a beta of 1.84.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $1.19. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.99 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. Equities research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were given a dividend of $3.17 per share. The ex-dividend date of this dividend was Monday, March 24th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. This represents a $12.68 dividend on an annualized basis and a dividend yield of 91.84%. ZIM Integrated Shipping Services’s payout ratio is currently 6.51%.

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.