Navellier & Associates Inc. Cuts Stock Position in Costamare Inc. (NYSE:CMRE)

Navellier & Associates Inc. lowered its stake in Costamare Inc. (NYSE:CMRE) by 10.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,370 shares of the shipping company’s stock after selling 2,587 shares during the period. Navellier & Associates Inc.’s holdings in Costamare were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in Costamare by 2,540.4% during the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock valued at $121,000 after purchasing an additional 7,113 shares during the last quarter. Ballentine Partners LLC raised its holdings in Costamare by 7.6% during the third quarter. Ballentine Partners LLC now owns 14,262 shares of the shipping company’s stock valued at $224,000 after acquiring an additional 1,012 shares during the period. US Bancorp DE raised its holdings in Costamare by 1,385.2% during the third quarter. US Bancorp DE now owns 11,837 shares of the shipping company’s stock valued at $186,000 after acquiring an additional 11,040 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Costamare by 37.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 292,879 shares of the shipping company’s stock valued at $4,604,000 after acquiring an additional 79,381 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Costamare by 34.2% during the third quarter. Principal Financial Group Inc. now owns 59,177 shares of the shipping company’s stock valued at $930,000 after acquiring an additional 15,092 shares during the period. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and set a $13.00 price objective on shares of Costamare in a research report on Wednesday, February 5th. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a research report on Friday, January 31st.

Costamare Stock Performance

Costamare stock opened at $10.48 on Monday. The company has a 50 day moving average price of $11.95 and a 200-day moving average price of $13.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. Costamare Inc. has a fifty-two week low of $10.33 and a fifty-two week high of $17.58. The company has a market capitalization of $1.26 billion, a PE ratio of 4.29 and a beta of 1.31.

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

Costamare Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Tuesday, January 21st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s dividend payout ratio (DPR) is 18.85%.

Costamare Profile