Vanguard Group Inc. Increases Holdings in Costamare Inc. (NYSE:CMRE)

Vanguard Group Inc. boosted its stake in Costamare Inc. (NYSE:CMRE) by 12.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 319,385 shares of the shipping company’s stock after purchasing an additional 35,903 shares during the quarter. Vanguard Group Inc.’s holdings in Costamare were worth $3,625,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CMRE. Parallel Advisors LLC increased its holdings in shares of Costamare by 197.8% in the fourth quarter. Parallel Advisors LLC now owns 4,059 shares of the shipping company’s stock worth $42,000 after purchasing an additional 2,696 shares during the period. Quarry LP increased its stake in Costamare by 48.5% in the 4th 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. Raymond James & Associates purchased a new stake in shares of Costamare in the 4th quarter valued at about $135,000. Victory Capital Management Inc. boosted its position in shares of Costamare by 12.7% during the 4th quarter. Victory Capital Management Inc. now owns 13,252 shares of the shipping company’s stock valued at $138,000 after acquiring an additional 1,498 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings 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 purchasing an additional 2,585 shares in the last quarter. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CMRE. Stifel Nicolaus raised their target price on shares of Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Jefferies Financial Group lifted their price objective on shares of Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st.

Costamare Stock Performance

Shares of NYSE CMRE opened at $13.85 on Monday. The stock’s 50-day moving average is $15.17 and its 200 day moving average is $13.23. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 5.37 and a beta of 1.38. Costamare Inc. has a 1-year low of $8.54 and a 1-year high of $17.58. The company has a current ratio of 1.61, a quick ratio of 1.81 and a debt-to-equity ratio of 0.77.

Costamare Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, July 19th were issued a $0.115 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.32%. Costamare’s payout ratio is 17.83%.

Costamare Company Profile