Essential Planning LLC. acquired a new stake in shares of Costamare Inc. (NYSE:CMRE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 124,005 shares of the shipping company's stock, valued at approximately $1,718,000. Essential Planning LLC. owned 0.11% of Costamare as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Kendall Capital Management boosted its stake in shares of Costamare by 0.6% in the fourth quarter. Kendall Capital Management now owns 242,374 shares of the shipping company's stock valued at $3,115,000 after purchasing an additional 1,370 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Costamare in the fourth quarter valued at $1,399,000. Victory Capital Management Inc. purchased a new position in shares of Costamare in the fourth quarter valued at $130,000. Denali Advisors LLC boosted its stake in shares of Costamare by 1.7% in the fourth quarter. Denali Advisors LLC now owns 508,195 shares of the shipping company's stock valued at $6,530,000 after purchasing an additional 8,300 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Costamare by 4.2% in the fourth quarter. New York State Common Retirement Fund now owns 223,565 shares of the shipping company's stock valued at $2,873,000 after purchasing an additional 9,100 shares during the period. 58.08% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CMRE has been the topic of several recent analyst reports. StockNews.com cut shares of Costamare from a "buy" rating to a "hold" rating in a report on Friday. Jefferies Financial Group reaffirmed a "hold" rating and issued a $13.00 price target on shares of Costamare in a report on Wednesday, February 5th.
Read Our Latest Stock Report on Costamare
Costamare Stock Performance
CMRE stock traded up $0.08 during trading on Friday, hitting $10.28. 401,324 shares of the company's stock traded hands, compared to its average volume of 442,640. 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 Inc. has a 52 week low of $9.66 and a 52 week high of $17.58. The stock has a fifty day moving average price of $11.17 and a two-hundred day moving average price of $12.89. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 4.21 and a beta of 1.28.
Costamare (NYSE:CMRE - Get Free Report) last released its 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 anticipate that Costamare Inc. will post 2.52 EPS for the current fiscal year.
Costamare Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Tuesday, January 21st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare's dividend payout ratio (DPR) is 18.85%.
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