JPMorgan Chase & Co. Boosts Stake in Costamare Inc. (NYSE:CMRE)

JPMorgan Chase & Co. lifted its holdings in shares of Costamare Inc. (NYSE:CMRE) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 339,566 shares of the shipping company’s stock after acquiring an additional 11,076 shares during the quarter. JPMorgan Chase & Co. owned 0.29% of Costamare worth $5,338,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CMRE. American Century Companies Inc. increased its holdings in Costamare by 62.9% during the 2nd quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company’s stock worth $10,216,000 after purchasing an additional 239,970 shares during the last quarter. Kendall Capital Management grew its position in shares of Costamare by 4.1% during the second quarter. Kendall Capital Management now owns 245,094 shares of the shipping company’s stock worth $4,027,000 after buying an additional 9,594 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Costamare during the second quarter worth approximately $674,000. Marshall Wace LLP increased its stake in shares of Costamare by 985.5% in the second quarter. Marshall Wace LLP now owns 357,557 shares of the shipping company’s stock worth $5,875,000 after buying an additional 324,618 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Costamare by 69.8% in the second quarter. AQR Capital Management LLC now owns 77,622 shares of the shipping company’s stock valued at $1,275,000 after acquiring an additional 31,896 shares in the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Stock Performance

CMRE stock opened at $12.35 on Friday. The firm has a market cap of $1.45 billion, a P/E ratio of 4.10 and a beta of 1.33. The stock’s 50 day simple moving average is $13.26 and its 200 day simple moving average is $13.99. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. Costamare Inc. has a 12-month low of $10.14 and a 12-month high of $17.58.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. The company had revenue of $544.64 million for the quarter, compared to the consensus estimate of $434.13 million. During the same period last year, the firm posted $0.46 EPS. As a group, equities research analysts predict that Costamare Inc. will post 2.79 EPS for the current year.

Costamare Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Tuesday, January 21st. Costamare’s payout ratio is 15.28%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 price target on shares of Costamare in a research note on Friday, November 1st.

Costamare Company Profile