Costamare Inc. (NYSE:CMRE) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its holdings in shares of Costamare Inc. (NYSE:CMRE - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 371,153 shares of the shipping company's stock after selling 62,842 shares during the period. Charles Schwab Investment Management Inc. owned 0.32% of Costamare worth $4,769,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. lifted its holdings in Costamare by 87.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company's stock worth $7,071,000 after buying an additional 257,422 shares during the period. Sanctuary Advisors LLC raised its position in shares of Costamare by 577.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 76,309 shares of the shipping company's stock worth $1,200,000 after acquiring an additional 65,040 shares in the last quarter. Barclays PLC lifted its stake in shares of Costamare by 291.1% during the 3rd quarter. Barclays PLC now owns 59,016 shares of the shipping company's stock worth $928,000 after purchasing an additional 43,925 shares during the last quarter. PDT Partners LLC boosted its position in Costamare by 50.5% during the third quarter. PDT Partners LLC now owns 122,181 shares of the shipping company's stock valued at $1,921,000 after purchasing an additional 41,012 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Costamare by 141.9% in the third quarter. BNP Paribas Financial Markets now owns 62,773 shares of the shipping company's stock valued at $987,000 after purchasing an additional 36,822 shares during the last quarter. 58.08% of the stock is currently owned by institutional investors.

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Costamare Stock Down 0.8 %

Shares of Costamare stock traded down $0.09 during trading on Friday, reaching $9.95. The company's stock had a trading volume of 420,681 shares, compared to its average volume of 457,200. The company has a 50-day simple moving average of $10.71 and a two-hundred day simple moving average of $12.66. Costamare Inc. has a 1-year low of $9.66 and a 1-year high of $17.58. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 4.08 and a beta of 1.28. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, topping 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, equities analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current year.

Costamare Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $0.46 dividend on an annualized basis and a yield of 4.63%. Costamare's payout ratio is 18.85%.

Analysts Set New Price Targets

Several research firms have commented on CMRE. Jefferies Financial Group reissued a "hold" rating and set a $13.00 price target on shares of Costamare in a research report on Wednesday, February 5th. StockNews.com lowered shares of Costamare from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

About Costamare