Raymond James Financial Inc. Makes New $1.40 Million Investment in Costamare Inc. (NYSE:CMRE)

Raymond James Financial Inc. purchased a new stake in Costamare Inc. (NYSE:CMRE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 108,884 shares of the shipping company's stock, valued at approximately $1,399,000. Raymond James Financial Inc. owned about 0.09% of Costamare at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMRE. Victory Capital Management Inc. bought a new stake in Costamare during the fourth quarter worth about $130,000. Denali Advisors LLC raised its stake in shares of Costamare by 1.7% during the 4th quarter. Denali Advisors LLC now owns 508,195 shares of the shipping company's stock worth $6,530,000 after purchasing an additional 8,300 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Costamare by 4.2% in the 4th quarter. New York State Common Retirement Fund now owns 223,565 shares of the shipping company's stock valued at $2,873,000 after buying an additional 9,100 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Costamare by 10.9% in the fourth quarter. Principal Financial Group Inc. now owns 65,638 shares of the shipping company's stock valued at $843,000 after buying an additional 6,461 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Costamare by 43.5% during the fourth quarter. Blue Trust Inc. now owns 10,606 shares of the shipping company's stock worth $136,000 after buying an additional 3,213 shares during the last quarter. 58.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on CMRE shares. StockNews.com cut shares of Costamare from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. Jefferies Financial Group reiterated a "hold" rating and issued a $13.00 target price on shares of Costamare in a research note on Wednesday, February 5th.

Costamare Stock Performance

Costamare stock traded down $0.20 during mid-day trading on Monday, hitting $8.75. 1,015,419 shares of the company's stock traded hands, compared to its average volume of 466,446. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The firm has a 50 day simple moving average of $10.42 and a two-hundred day simple moving average of $12.48. Costamare Inc. has a fifty-two week low of $8.06 and a fifty-two week high of $17.58. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 3.58 and a beta of 1.11.

Costamare (NYSE:CMRE - Get Free Report) last posted its earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. On average, research analysts expect that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Thursday, April 17th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 5.26%. The ex-dividend date is Thursday, April 17th. Costamare's payout ratio is 18.85%.

Costamare Profile