Bank of New York Mellon Corp Sells 3,833 Shares of Costamare Inc. (NYSE:CMRE)

Bank of New York Mellon Corp trimmed its stake in Costamare Inc. (NYSE:CMRE) by 3.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,230 shares of the shipping company’s stock after selling 3,833 shares during the period. Bank of New York Mellon Corp owned 0.10% of Costamare worth $1,584,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC raised its stake in shares of Costamare by 577.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 76,309 shares of the shipping company’s stock valued at $1,200,000 after acquiring an additional 65,040 shares in the last quarter. Barclays PLC grew its holdings in Costamare by 291.1% in the 3rd quarter. Barclays PLC now owns 59,016 shares of the shipping company’s stock valued at $928,000 after buying an additional 43,925 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Costamare by 4.2% in the 4th quarter. New York State Common Retirement Fund now owns 223,565 shares of the shipping company’s stock valued at $2,873,000 after buying an additional 9,100 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Costamare by 10.9% in the 4th quarter. Principal Financial Group Inc. now owns 65,638 shares of the shipping company’s stock valued at $843,000 after buying an additional 6,461 shares during the last quarter. Finally, State Street Corp grew its holdings in Costamare by 2.6% in the 3rd quarter. State Street Corp now owns 1,213,838 shares of the shipping company’s stock valued at $19,082,000 after buying an additional 30,986 shares during the last quarter. 58.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CMRE has been the topic of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 target price on shares of Costamare in a report on Wednesday, February 5th. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Costamare Stock Performance

CMRE opened at $10.13 on Friday. Costamare Inc. has a 12-month low of $9.66 and a 12-month high of $17.58. The firm has a market capitalization of $1.21 billion, a P/E ratio of 4.15 and a beta of 1.28. The stock’s 50 day moving average price is $10.96 and its two-hundred day moving average price is $12.77. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73.

Costamare (NYSE:CMRE) last announced its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a return on equity of 14.03% and a net margin of 15.14%. On average, equities analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current year.

Costamare Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Tuesday, January 21st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Tuesday, January 21st. Costamare’s payout ratio is presently 18.85%.

Costamare Company Profile