Summit X LLC Decreases Stock Position in Costamare Inc. (NYSE:CMRE)

Summit X LLC cut its holdings in Costamare Inc. (NYSE:CMRE) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 141,055 shares of the shipping company’s stock after selling 2,854 shares during the quarter. Summit X LLC owned about 0.12% of Costamare worth $1,813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMRE. US Bancorp DE raised its stake in shares of Costamare by 1,385.2% in the third quarter. US Bancorp DE now owns 11,837 shares of the shipping company’s stock worth $186,000 after purchasing an additional 11,040 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Costamare by 34.2% in the third quarter. Principal Financial Group Inc. now owns 59,177 shares of the shipping company’s stock worth $930,000 after purchasing an additional 15,092 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Costamare by 9.7% in the third quarter. Los Angeles Capital Management LLC now owns 160,579 shares of the shipping company’s stock worth $2,524,000 after purchasing an additional 14,198 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Costamare in the third quarter worth about $886,000. Finally, Empowered Funds LLC raised its stake in shares of Costamare by 5.3% in the third quarter. Empowered Funds LLC now owns 572,708 shares of the shipping company’s stock worth $9,003,000 after purchasing an additional 29,078 shares during the last quarter. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Stock Down 0.3 %

Costamare stock opened at $10.13 on Wednesday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 4.15 and a beta of 1.28. Costamare Inc. has a 52 week low of $9.66 and a 52 week high of $17.58. The business’s 50-day moving average price is $11.34 and its 200 day moving average price is $12.96. 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 issued its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, beating 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%. As a group, sell-side analysts anticipate 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. Shareholders of record on Tuesday, January 21st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s payout ratio is currently 18.85%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CMRE shares. StockNews.com upgraded Costamare from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $13.00 target price on shares of Costamare in a report on Wednesday, February 5th.

Costamare Profile