Mitsubishi UFJ Trust & Banking Corp has sold a 27.6% stake in ZIM Integrated Shipping Services Ltd. (ZIM:NYE) according to the latest filing with the Securities and Exchange Commission (SEC). The fund now owns 56,026 shares in ZIM stock, a reduction of 21,393 shares from the previous quarter, and valued at $1,317,000 as of its most recent filing with the SEC.
Hedge Funds & Institutional Holdings:
Other institutional investors and hedge funds have also adjusted their holdings in the stock recently. Steward Partners Investment Advisory LLC increased its holdings by 16.0% in the second quarter, while CIBC Private Wealth Group LLC boosted its holdings by 22.5%. DekaBank Deutsche Girozentrale increased its holdings by 31.9% in the third quarter, Paradiem LLC boosted its holdings by 8.1% in the same period, and Delphia USA Inc. increased its holdings by 85.6% in the second quarter. Hedge funds and other institutional investors now own 36.74% of the ZIM stock.
ZIM Stock Price Analysis:
On Monday, the opening ZIM stock price was $22.16 and it closed up 4.3%. The company has a market capitalization of $2.66 billion, a PE ratio of 0.45, and a beta of 2.29. Its 12-month low is $16.23 and its 12-month high is $91.23. The business has a 50-day simple moving average of $18.74 and a 200-day simple moving average of $26.23. The company’s debt-to-equity ratio is 0.54, its current ratio is 1.58, and its quick ratio is 1.50.
ZIM Stock Price-Analyst Ratings:
Several equities research analysts have recently commented on the company, including Barclays, which downgraded ZIM Integrated Shipping Services from an “equal weight” rating to an “underweight” rating and decreased ZIM stock price target from $26.50 to $15.00 in a report on February 13th.
JPMorgan Chase & Co. upgraded ZIM Integrated Shipping Services from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $17.60 to $30.40 in a research report on Friday.
Jefferies Financial Group reduced their ZIM stock price target from $21.00 to $20.00 and set a “hold” rating for the company in a research report on February 7th.
According to Stock Target Advisor, the stock has a consensus “Hold” rating and an average ZIM stock price target of $24.27 over the next 12 months.
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.
The company also offers ZIMonitor, a premium reefer cargo tracking service. As of December 31, 2021, it operated a fleet of 118 vessels, which included 110 container vessels and 8 vehicle transport vessels, of which four vessels were owned by it and 114 vessels are chartered-in; and network of 70 weekly lines. The company was incorporated in 1945 and is headquartered in Haifa, Israel.