Costamare Inc. (NYSE:CMRE) Shares Bought by Creative Planning

Creative Planning grew its holdings in shares of Costamare Inc. (NYSE:CMRE) by 5.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,067 shares of the shipping company’s stock after purchasing an additional 2,703 shares during the period. Creative Planning’s holdings in Costamare were worth $905,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Quarry LP grew its position in shares of Costamare by 48.5% during the fourth quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after acquiring an additional 1,376 shares during the last quarter. CWM LLC grew its position in shares of Costamare by 53.6% during the second quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock worth $71,000 after acquiring an additional 1,502 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of Costamare during the second quarter worth about $80,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Costamare during the first quarter worth about $132,000. Finally, Ballentine Partners LLC grew its position in shares of Costamare by 23.5% during the first quarter. Ballentine Partners LLC now owns 13,567 shares of the shipping company’s stock worth $154,000 after acquiring an additional 2,585 shares during the last quarter. 58.08% of the stock is owned by institutional investors and hedge funds.

Costamare Stock Performance

Shares of CMRE opened at $14.65 on Friday. The firm has a 50-day moving average price of $14.19 and a 200 day moving average price of $14.06. The firm has a market capitalization of $1.72 billion, a PE ratio of 5.18 and a beta of 1.37. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 0.77. Costamare Inc. has a 52-week low of $8.54 and a 52-week high of $17.58.

Costamare (NYSE:CMRE) last announced its earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The firm had revenue of $515.42 million during the quarter, compared to analyst estimates of $380.41 million. Costamare had a net margin of 19.63% and a return on equity of 13.63%. On average, sell-side analysts anticipate that Costamare Inc. will post 3.05 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be given a dividend of $0.115 per share. The ex-dividend date is Monday, October 21st. This represents a $0.46 annualized dividend and a dividend yield of 3.14%. Costamare’s dividend payout ratio (DPR) is 16.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CMRE. Stifel Nicolaus upped their price target on shares of Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Jefferies Financial Group increased their target price on shares of Costamare from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd.

Costamare Company Profile