Fmr LLC Boosts Stock Position in Costamare Inc. (NYSE:CMRE)

Fmr LLC grew its holdings in shares of Costamare Inc. (NYSE:CMRE) by 261.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,763 shares of the shipping company’s stock after buying an additional 17,921 shares during the quarter. Fmr LLC’s holdings in Costamare were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. nVerses Capital LLC grew its stake in Costamare by 1,700.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after purchasing an additional 1,700 shares in the last quarter. Gladius Capital Management LP bought a new position in Costamare during the 3rd quarter worth approximately $35,000. Redwood Wealth Management Group LLC acquired a new position in shares of Costamare in the 2nd quarter worth approximately $80,000. Blue Trust Inc. grew its position in shares of Costamare by 2,540.4% in the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock worth $121,000 after acquiring an additional 7,113 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Costamare in the 2nd quarter valued at approximately $185,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

Wall Street Analysts Forecast Growth

CMRE has been the topic of several research analyst reports. Jefferies Financial Group restated a “hold” rating and set a $13.00 price objective on shares of Costamare in a research note on Friday, November 1st. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

Costamare Stock Down 0.7 %

NYSE:CMRE opened at $12.42 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The stock has a 50 day moving average of $13.69 and a 200-day moving average of $14.42. The firm has a market capitalization of $1.46 billion, a PE ratio of 4.13 and a beta of 1.34. Costamare Inc. has a 52 week low of $10.08 and a 52 week high of $17.58.

Costamare (NYSE:CMRE) last released its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The business had revenue of $544.64 million during the quarter, compared to analyst estimates of $434.13 million. During the same quarter in the previous year, the firm posted $0.46 EPS. Analysts predict that Costamare Inc. will post 2.83 EPS for the current year.

Costamare Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.70%. Costamare’s dividend payout ratio (DPR) is presently 15.28%.

Costamare Company Profile